JD.com's Recent Share Price Weakness Likely Buying Opportunity -- Market Talk

Dow Jones
2024/11/15

0413 GMT - JD.com's recent share price weakness is due to profit-taking and likely to be an enhanced buying opportunity, Citi analysts say, citing reasonable valuation and solid execution. The Chinese e-commerce company's 3Q profit beat is stronger than expected, they add. JD.com has been able to capture growing demand on appliance trade-in initiatives and remains confident in achieving double-digit profit growth for the full-year 2024, Citi points out, citing management's remarks. The analysts maintain a buy rating, and trims its target price for ADRs to US$51.00 from $52.00, which last traded at US$33.35. Its Hong Kong-listed shares are 1.4% lower at HK$133.20. (tracy.qu@wsj.com)

 

(END) Dow Jones Newswires

November 14, 2024 23:13 ET (04:13 GMT)

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