Morgan Stanley said it would downgrade the ratings of Pinduoduo and Meituan to equal; reduce Meituan's target price from HK$110 to HK$90, and cut Pinduoduo's target price from $129 to $90. The target price for the same trip was lowered to HK$17, and the target price for Kuaishou was reduced to HK$31. Alibaba is the first choice because it has differentiated artificial intelligence and cloud computing business exposure, and is the best artificial intelligence investment target in the Chinese Internet industry.

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