Benzinga | Jan 31, 2022 08:57AM EST

Another Analyst Cuts Price Target On Alibaba

* Mizuho analyst James Lee lowered the firm's price target on Alibaba Group Holding Ltd (NYSE: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 (NASDAQ: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.