JD.com price target lowered to $80 from $85 at Mizuho

Mizuho analyst James Lee lowered the firm’s price target on JD.com to $80 from $85 and keeps a Buy rating on the shares. The market has two key concerns post the company’s Q4 results and "they are oversized," the analyst tells investors in a research note. While JD’s Q1 recovery curve is slower than anticipated, there are signs of positive revenue growth in March. says the analyst, who anticipates double-digit growth in the second half of the year. Second, the expects flat retail margins in fiscal 2023 year-over-year, while JD’s consolidated margins continue expanding.