Jefferies analyst Karen Chan lowered her price target for Weibo to $90 ahead of the company's Q3 results and keeps a Buy rating on the shares. Weibo is down 37% year-to-date due to time spent cannibalization concern from short video and intensifying ad competition, Chan tells investors in a research note. The analyst, however, views the former concern as overdone. With the stock trading at 19 times 2019 estimates, the market "has priced in a significant growth slowdown," says the analyst. She believes a worse than expected scenario is reflected in the stock.