Morgan Stanley analyst Eddy Wang downgraded JD.com (JD) to Underweight from Equal Weight with a $28 price target The firm views JD as the worst positioned Chinese e-commerce stock over the next 12 months. The company’s revenue growth will significantly slow and its margins will erode due to easing trade-in effects and investments in new businesses, the analyst tells investors in a research note. Morgan Stanley believes these are weakening JD’s ability to improve shareholder returns.
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