Citi lowered the firm’s price target on JD.com (JD) to $37 from $44 and keeps a Buy rating on the shares. The firm reduced estimates to reflect the “steepening decline” of home appliances sales. JD’s sales in December could weaken relative to November, the analyst tells investors in a research note. Citi sees limited catalysts for the shares in the near-term as it expects consensus estimates for Q4 and 2026 to come down.
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