SunTrust Robinson Humphrey Raises price Target on JD.com (JD) to $31
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SunTrust Robinson Humphrey reiterated a Buy rating on JD.com, Inc (NASDAQ: JD), and raised the price target to $31.00 (from $27.00), ahead of the company's 3Q report.
Analyst Robert Peck commented, "GMV growth for 3Q could be challenged by seasonality, increased competition, as well as anti-brushing, impacts from virtual goods and PaiPai comps. However, gross profit growth remains robust at >50% and core 1P profitability and FCF are improving as JD's scale (better supplier terms) and category mix shifts offset continued opex spending and investments in logistics, FMCG and cloud. Investor sentiment remains cautious around near term issues and supportive of secular trends. We reiterate Buy rating and new 2017 PT of $31 PT from $27, which implies 5x EV/GP, in line with peers."
Shares of JD.com, Inc closed at $27.03 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesSunTrust Robinson Humphrey, Robert Peck
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