Jefferies lowered the firm’s price target on JD.com to $80 from $97 and keeps a Buy rating on the shares ahead of the Q3 report. The analyst reduced revenue estimates for the second half of 2023 to reflect the impact of macro headwinds amid a gradual recovery in consumer sentiment as well as JD’s strategic adjustment. The firm views 2023 is a “year of transition” for JD, saying the company’s long term strategies and competitive moat are intact.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on JD:
- JD.com (NASDAQ: JD) Slides as Analysts Lower Price Targets and Forecasts
- JD.com price target lowered to $67 from $73 at Benchmark
- JD.com price target lowered to $43 from $64 at Citi
- JD.com downgraded to Equal Weight from Overweight at Morgan Stanley
- JD.com downgraded to Neutral from Outperform at Macquarie