Alibaba can unlock ‘significant value’ with restructuring, says Morgan Stanley

After Alibaba said it will split into six units, Morgan Stanley analyst Gary Yu called the restructuring a "significant positive catalyst" and tells investors that the firm sees the potential to unlock "significant" sum-of-the-parts value given its belief that the market assigns zero value to the ex-core e-commerce businesses. The firm, which said its sum-of-the-parts-based bull value of $200 per share "implies 100%-plus upside," has an Overweight rating and $150 price target on Alibaba shares.