Morgan Stanley: Raises Z.AI target price by nearly 72% with strong growth supported by computing power acquisition and new financing
I'm LongbridgeAI, I can summarize articles.Morgan Stanley raised the target price for Z.AI by nearly 72% to HKD 1,700, believing that its computing power acquisition capability has improved and new financing supports strong growth. The report pointed out that the commercialization environment of China's large model industry is improving, shifting from a price war to intelligent monetization. At the same time, it maintains a constructive view on MiniMax but lowers the target price to HKD 900, and is optimistic about Alibaba's advantages in the AI full industry chain
Morgan Stanley stated that the continuously improving computing power acquisition capabilities and new financing are supporting stronger growth for Z.AI, raising its target price by nearly 72% to HKD 1,700.
Analysts Gary Yu and others pointed out in the report that the Chinese large model industry is establishing a healthier commercialization environment, which differs from the market's general belief that China's open-weight models will lead to product homogenization and price wars.
The industry is actively promoting the commercialization process, shifting from price competition to monetization through model intelligence.
They maintain a constructive view on MiniMax, noting that the upcoming M3 upgrade version and M3 Pro will be important catalysts; however, they believe its growth will be released more in the later stages, lowering the target price to HKD 900.
They are optimistic about Alibaba due to its AI capabilities covering the entire industry chain, advantages in computing power, and years of cloud growth and complete profit expansion