JD.com price target lowered to $82 from $90 at Mizuho

Mizuho analyst James Lee lowered the firm’s price target on JD.com to $82 from $90 and keeps a Buy rating on the shares. The analyst expects the recovery curve for China internet in the second half of 2022 to slow given the ongoing rising COVID cases and mobility restrictions that impacted consumer sentiment and business activities. He anticipates the headwind to be reflected across all segments of the internet, including ecommerce, advertising, and cloud computing.