Stifel analyst Scott W. Devitt raised the price target on JD.com, Inc (NASDAQ: JD) to $90.00 (from $85.00) while maintaining a Buy rating.

The analyst commented, "This morning, JD.com, Inc. announced that it will be acquiring a controlling stake of China Logistics Property for approximately $513mm (USD). The acquisition is being made by JD.com's property subsidiary, JD Property Group Corp. Today's acquisition represents 26% interest in China Logistics, bringing JD.com's total interest in the company to a controlling stake of 37%. We view this acquisition as strengthening the company's logistics business and long-term growth runway. Our PT moves to $90 to reflect our increased comfort in JD.com's competitive position in this new regulatory environment."