Another Analyst Cuts Price Target On Alibaba

Mizuho analyst James Lee lowered the firm's price target on Alibaba Group Holding Ltd BABA to $180 from $215 and reiterated a Buy rating on the shares.
The price target implies an upside of 56.2%.
Related Content: Analysts Cut Alibaba Price Target Ahead Of Quarterly Results; Remain Bullish
The analyst anticipates a "challenging" Q4 but looks for customer management revenue growth to reach a bottom in Q1.
Lee also cut Baidu Inc's BIDU price target from $305 to $300 (104.7% upside).
Price Action: BABA shares traded higher by 1.71% at $117.20 in the premarket session on the last check Monday.