Macquarie Downgrades JD.com to Neutral, Lowers Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
Macquarie analyst Ellie Jiang has downgraded JD.com (NASDAQ:JD) from Outperform to Neutral and lowered the price target from $52 to $32.
October 13, 2023 | 10:21 am
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NEGATIVE IMPACT
JD.com has been downgraded by Macquarie from Outperform to Neutral, with a lowered price target from $52 to $32.
The downgrade from Outperform to Neutral by Macquarie indicates a less optimistic outlook for JD.com. The lowered price target from $52 to $32 suggests that the analyst believes the stock is overvalued at current levels. This could lead to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100