JD.com price target lowered to $40 from $41 at Barclays

Barclays lowered the firm’s price target on JD.com to $40 from $41 and keeps an Overweight rating on the shares. The analyst trimmed estimates ahead of the Q2 report. With expectations for revenue and gross merchandise volume growth in Q2 set to decline due to tough year-over-year comparisons for home appliances and electronics, and with month of June being the weakest in Q2, risks to JD delivering above-industry growth in fiscal 2024 “start to rise,” the analyst tells investors in a research note.