UBS Upgrades JD.com, Inc (JD) to Buy on Better LT Earnings Outlook
- Wall St ends up with Goldman; Dow posts biggest weekly rise since June
- Goldman Sachs (GS) Smashes Analyst 3Q Views on Robust M&A and Underwriting Activity
- Tesla (TSLA) Stock: Jefferies Raises Price Target on Higher Capacity Ramp and Sustained Demand, Berlin Giga Will Set New Design and Assembly Standards Says Analyst
- Food, fuels lift U.S. import prices in September
- SEC to Allow First Ever Bitcoin (BTC) ETF - Report
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
UBS analyst Jerry Liu upgraded JD.com, Inc (NASDAQ: JD) from Neutral to Buy with a price target of $52.00 (from $38.00).
The analyst comments "In the near term, COVID-19 outbreak will hurt e-commerce platforms (we lower near term estimates), but JD is relatively better positioned with its direct model (see recent checks inside). More importantly, we assume this is a temporary impact to JD, which investors will look through. Beyond 1H20, we see better revenue growth vs. prior estimates driven by good execution in FMCG and still double digit growth in home appliances and smartphones (5G upgrade cycle is further upside) combined with continued net margin improvement due to scale and cost control. We are ahead of consensus on revenues and net margins from 2H20 onwards, as we have confidence management can execute and deliver steady results going forward, which we believe is not priced into the stock."
Shares of JD.com, Inc closed at $41.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Semiconductor Stocks: Prepare for Mixed 3Q Results/Guidance Says Goldman Sachs and Upgrades Broadcom (AVGO) to Buy and Downgrades Western Digital (WDC) to Neutral
- J.B. Hunt Transport Services (JBHT) PT Raised to $190 at Goldman Sachs
- Squarespace (SQSP) Stock Surges on Upgrade to Overweight at Piper Sandler, Sees Over 30% Upside
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesUBS, 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!