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JD.com price target lowered to $67 from $73 at Benchmark

Benchmark analyst Fawne Jiang lowered the firm’s price target on JD.com to $67 from $73 and keeps a Buy rating on the shares. The firm is lowering its second half revenue estimates, now projecting year-over-year growth at low single digit versus a prior call for mid-single digit percentage growth, to account for softer than expected Q3 China retail/e-commerce growth, tough comps in the company’s leading electronic and home appliance SKUs and the disruption associated with their business adjustments and organizational restructuring, the analyst tells investors.

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