JD.Com's Retail Revenue To Fall In Q3: Analyst Reviews Sluggish Macro Trends In China
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Fawne Jiang has reiterated a Buy rating on JD.Com, Inc but lowered the price target to $67. Jiang has also reduced the 2H23 revenue estimates for JD, projecting a low single-digit year-on-year growth. The analyst cited softer-than-expected Q3 China retail/e-commerce growth and a tough year-on-year comparison on their leading electronic and home appliance SKUs as reasons. Jiang also warned about potential disruptions due to business adjustments and organizational restructuring.
October 13, 2023 | 7:34 pm
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NEGATIVE IMPACT
JD.Com, Inc's stock price may be negatively impacted in the short term due to the lowered price target and revenue estimates by Benchmark analyst Fawne Jiang.
The lowered price target and revenue estimates by the analyst indicate a less optimistic outlook for the company's financial performance. This could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100