JD.com price target lowered to $70 from $82 at HSBC

HSBC analyst Charlene Liu lowered the firm’s price target on JD.com to $70 from $82 and keeps a Buy rating on the shares. The analyst says internal adjustments and the weaker than expected macro environment could cloud the company’s growth outlook. However, JD’s margins are likely to "remain defensive," buffering the stock’s valuation, the analyst tells investors in a research note.