JD.Com's Cost Management In Focus - Analyst Maintains Core GMV Growth Assumptions
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Fawne Jiang maintains a Buy rating on JD.Com, Inc (NASDAQ:JD) with a price target of $55, citing disciplined cost management and healthy GMV growth. The first quarter revenue projection remains unchanged at +6% y/y, with a raised non-GAAP NPM estimate to 2.8%. For FY24, GMV and revenue are expected to grow above China's retail growth rate with a stable profit year over year. The current estimates do not factor in potential stimulus policies from China's government, which could provide an upside to JD's stock.
April 16, 2024 | 6:10 pm
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POSITIVE IMPACT
Benchmark analyst Fawne Jiang reiterates a Buy rating on JD.Com, Inc with a price target of $55, highlighting disciplined cost management and healthy GMV growth. The positive outlook for FY24 and potential upside from China's stimulus policies could positively impact JD's stock.
The analyst's positive outlook, based on disciplined cost management and healthy GMV growth, along with an unchanged revenue projection and a raised non-GAAP NPM estimate, suggests a strong performance for JD.Com. The potential upside from China's stimulus policies, although not yet factored into current estimates, presents an additional growth opportunity for JD, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100