Macquarie downgraded JD.com to Neutral from Outperform with a price target of $32, down from $52. The analyst sees continued drag from the company’s reorganization and limited growth visibility ahead. JD.com’s growth reacceleration is a near-term goal, which potentially caps profitability upside in the near term, the analyst tells investors in a research note. The firm says the shares need visible signs of faster revenue growth to break out.
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