JD.com price target lowered to $31 from $35 at Loop Capital

Loop Capital lowered the firm’s price target on JD.com (JD) to $31 from $35 and keeps a Hold rating on the shares. Online consumption trends in China through May are encouraging, but the early reports on June 18th sales suggest mixed trends, with JD seen as a “meaningful laggard”, the analyst tells investors in a research note. Alibaba (BABA) is reportedly regaining share, fueled by aggressive promotion with targets including consumer electronicss and other stronghold categories for JD, the firm added.