Didi Global initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Didi Global (DIDIY) with an Overweight rating and $10 price target The firm is positive on the company’s “rare combination” of durable growth and structural profitability expansion, the analyst tells investors in a research note. JPMorgan adds that DiDi offers a powerful compounding engine from its China domestic mobility operations, supported by multiple structural levers to improve margins and unlock long-term value.