JD.Com's Strong Q2 Execution Overshadowed By Macro Uncertainties: This Analyst Lowers Price Target
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst Shyam Patil has reiterated a Neutral rating on JD.Com, Inc. (NASDAQ:JD), but lowered the price target from $40 to $38. Despite JD.Com's strong Q2 performance, with revenue growth of 7.6% YoY to $39.7 billion, beating consensus, and non-GAAP net income per ADS of $0.74, also beating consensus, Patil warns of macro uncertainties that could weigh on the business. The analyst also noted that JD.Com did not provide quantitative guidance for Q3 and beyond.
August 31, 2023 | 5:55 pm
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NEGATIVE IMPACT
JD.Com's strong Q2 results have been overshadowed by macro uncertainties, leading to a lowered price target from Susquehanna analyst.
The lowered price target from Susquehanna analyst, despite strong Q2 results, indicates a potential negative impact on JD.Com's stock price. The lack of quantitative guidance for Q3 and beyond, coupled with macro uncertainties, could lead to investor caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100