Fawne Jiang, analyst at Benchmark, maintained a Buy rating on Alibaba and lowered the price target to $118. Alibaba reported solid profit beat in Q3 but with uncertainty in China, the company is now focused on growth and investing in core businesses. Suspquehanna's Shyam Patil and Mizuho's James Lee also maintained Buy ratings with lowered price targets, while Goldman Sachs' Ronald Keung and Baird's Colin Sebastian maintained Buy ratings with lowered price targets.