Jefferies Raises Price Target on JD.com (JD) to $32 Following 2Q

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."

For an analyst ratings summary and ratings history on JD.com, Inc click here. For more ratings news on JD.com, Inc click here.

Shares of JD.com, Inc closed at $23.41 yesterday.

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