Goldman Sachs Reiterates Top Rating on JD.com (JD) Amid Another Record Singles Day

Goldman Sachs analyst Ronald Keung reiterated a Conviction Buy rating and $123.00 price target on JD.com, Inc (NASDAQ: JD) following another records Singles Day.

The analyst commented, "JD.com (JD) saw another year of record sales in this year's Singles Day shopping festival, where GMV reached Rmb349.1bn over the period Oct 31st 8pm - Nov 11th, 29% higher than last year's Rmb271.5bn during the Nov 1st 12am - Nov 11th sales period (noting this year's GMV period was four hours longer than last year's). We illustrate highlights of JD's Singles Day results by businesses/categories, and provide four key observations from this year's shopping festival for JD (Oct 20th-Nov 11th): (1) Strong user engagement trends, especially in attracting young users; (2) Further penetration into lower tier cities; (3) Supporting new and local brands, and (4) Omni-channel sales saw +101% yoy in GMV. "

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 $77.74 yesterday.

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