JD.com, Inc (JD) PT Lowered to $40 at Mizuho

Mizuho analyst James Lee lowered the price target on JD.com, Inc (NASDAQ: JD) to $40.00 (from $42.00) while maintaining a Outperform rating.

The analyst commented: "We like the positive developments in core retail business with revenue acceleration and margin expansion. Despite facing some tough comps in 2H especially 4Q on trade-in, we expect JD to continue gaining share driven by improved supply and user experience. That said, developments in on-demand appear on track in driving new customers and cross-selling, although more remains to be seen. We do like the combined offerings of on-demand and traditional ecommerce from consumer perspective and are mindful of the NT margin pressure. Maintain OP but lower PT to $40."

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