These Analysts Increase Their Forecasts On JD.com Following Strong Results
Portfolio Pulse from Avi Kapoor
JD.com (NASDAQ:JD) reported strong first-quarter results for fiscal 2024, with revenue and net income beating analyst expectations. Following the results, several analysts raised their price targets for JD.com.
May 17, 2024 | 12:11 pm
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JD.com reported better-than-expected Q1 2024 results, with revenue growing 7% year over year to $36.02 billion and adjusted net income per ADS of 78 cents. Following the results, analysts from Bernstein, B of A Securities, and Mizuho raised their price targets for JD.com.
JD.com's strong financial performance in Q1 2024, with revenue and net income surpassing analyst expectations, is likely to positively impact its stock price in the short term. The increase in price targets from multiple analysts further supports a bullish outlook.
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