Alibaba price target lowered to $130 from $137 at Barclays

Barclays analyst Jiong Shao lowered the firm’s price target on Alibaba (BABA) to $130 from $137 and keeps an Overweight rating on the shares. The company’s September quarter results were broadly in line but its current investment cycle is pressuring margins and causing concern among investors, the analyst tells investors in a research note. The firm thinks that as long as Alibaba keeps up its $4B-$5B share buyback on a quarterly basis, “the law of math will eventually work.”