UPDATE: JPMorgan Upgrades Dada Nexus Ltd. (DADA) to Overweight

May 16, 2022 3:30 AM EDT
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Price: $7.00 +2.49%

Rating Summary:
    11 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 30 | New: 13
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(Updated - May 16, 2022 5:18 AM EDT)

JPMorgan analyst Andre Chang upgraded Dada Nexus Ltd. (NASDAQ: DADA) from Neutral to Overweight with a price target of $10.00 (from $7.50).

The analyst comments "We expect Dada to be one of the most resilient ecommerce operators amidst recent COVID, second only to DingDong. A key difference between Dada and other ecommerce operators lies in its supply chain and logistic network. In most lockdowns, except for Shanghai’s extreme case, suppliers to Dada (e.g. supermarket, big retailers) converted their store to warehouse and pick-up station (i.e. accommodate take-out order only). In addition, delivery riders have often been exempted from lockdown in most cities. On the other hand, we think lockdown is likely to boost demand for Dada’s local fulfillment model given Dada’s higher exposure to consumer staples than other ecommerce peers. Upgrade the stock to OW on relative resilience during COVID with a new Dec-22 PT of US$10."

For an analyst ratings summary and ratings history on Dada Nexus Ltd. click here. For more ratings news on Dada Nexus Ltd. click here.

Shares of Dada Nexus Ltd. closed at $6.55 yesterday.

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