Wall Street is giving Chinese tech stocks some love again, and Morgan Stanley has named a 'top pick.'
Several investment banks have become more bullish on China's tech sector in recent weeks — and Morgan Stanley's one of them . "We note the improving regulatory environment for the overall Internet industry after a period of tightening in late 2020 and 2021.
, restructuring, licensing, removal of over-hang via regulatory fine, or even resumption of listing process – could be a significant positive catalyst to re-rate [Alibaba]," the bank said. Alibaba is also well placed to benefit from a consumption recovery in China and continued operational efficiency improvement across segments, according to Morgan Stanley. That's been "underappreciated" by the market, the bank added.
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