JD.com price target raised to $74 from $72 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on JD.com to $74 from $72 and keeps an Overweight rating on the shares. JD highlighted that its newly announced RMB 10B subsidies were not incremental spend and would likely have limited impact on margins, the analyst tells investors in a research note. The firm says the company’s softer headline Q1 revenue outlook is due largely to its move to shift some low-margin supermarket products from first party to third party.