Morgan Stanley Has Positive Outlook On Alibaba Following Hangzhou Trip

In a report published Friday, Morgan Stanley analyst Angela Moh reiterated an Overweight rating and $118.10 price target on Alibaba Group Holding Ltd (NYSE: BABA).

In the report, Angela Moh noted, "This year's record breaking 11-11 result once again shows Alibaba's ability to scale up. Reverse roadshow meetings gave us greater appreciation of the ongoing push for new initiatives to break new ground and potential further benefits from leveraging data insights. Reiterate OW."

Alibaba closed on Thursday at $114.84.