Jefferies Raises Price Target on JD.com (JD) to $32 Following 2Q
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies reiterated a Buy rating on JD.com, Inc (NASDAQ: JD), and raised the price target to $32.00 (from $31.60), following the company's 2Q earnings report. Revenue grew 42% yoy to RMB65.2bn, in line with management guidance and consensus. Management guided 3Q16 revenue at RMB59-61bn (+34%-38% YoY).
Analyst Jessie Guo commented, "JD delivered non-GAAP net profit in 2Q16, beating expectation. It was mainly due to higher monetisation for 3P and scale economy for 1P business. JD ecommerce platform could make continuing improvements, but increased investment for Yihaodian and losses from Dada may be offsetting factors in NT. Fine tune earnings and raise PT mildly to USD32 from USD31.6. Reiterate Buy."
Shares of JD.com, Inc closed at $23.41 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on Coca Cola (KO) to $46 Following 3Q; Reaffirmed Guidance
- Jefferies Raises Price Target on Northrop Grumman (NOC) Following 3Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!