JD.com, Inc (JD) PT Raised to $60 at Jefferies

Jefferies analyst Thomas Chong raised the price target on JD.com, Inc (NASDAQ: JD) to $60.00 (from $54.00) while maintaining a Buy rating.

The analyst comments "We expect JD to demonstrate strong execution in 4Q with solid performance post successful Double-11 on top of beneficiary to trade-in programs. In 4Q, we revise up total revenue and non-GAAP earnings factoring in better-than-expected performance in JD Retail revenue and segment OPM amid ROI approach in spending. Strengths in supply chain capabilities and strategies on user growth, price competitiveness and 3P ecosystems pave for long term. Maintain Buy."

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