Benchmark lowered the firm’s price target on JD.com (JD) to $38 from $42 and keeps a Buy rating on the shares. Q3 results showed healthy topline growth, but tough year-on-year comps in 3C and home appliances, coupled with uncertainties around the trade-in program, pose headwinds heading into Q4 and FY26, the analyst tells investors in a post-earnings note. The firm is lowering its Q4 and FY26 revenue growth projections and adjusting its earnings forecast accordingly.
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