JD.com promotion concerns appear overstated. says Mizuho

According to local media reports, JD.com plans to launch a RMB 10B promotional campaign in March, aiming to offer competitive prices in light of increased competition from PDD, Mizuho analyst James Lee the analyst tells investors in a research note. The firm says this is not the first time JD ran large-scale promotion campaigns. With the stock down more than 10% yesterday and 20% over the last month on margin concerns, Mizuho sees a good entry point. It keeps a Buy rating on the shares with an $85 price target.