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Alibaba set with $130 target at Morgan Stanley

  • Morgan Stanley analyst Grace Chen assumes Overweight coverage of Alibaba (BABA +1.5%), citing underappreciated efforts to upgrade the company's e-commerce business, its main profit driver, and potential for strategic initiatives beyond e-commerce, particularly AliCloud.
  • She's modeling AliCloud sales of $1B at near breakeven for FY 2017 and to $3B in FY 2019. Comparatively, Amazon drew $3.231B from its AWS segment in the most recently reported quarter alone.
  • Alibaba's (NYSE:BABA) to $92.42 at midday, roughly 1.5% higher on the session.

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