JD.com price target lowered to $40 from $45 at Susquehanna

Susquehanna lowered the firm’s price target on JD.com (JD) to $40 from $45 and keeps a Neutral rating on the shares. The firm said they reported a solid 1Q as it saw further improvements in the macro and also called out that user experience improvements are benefiting user growth. The company remains optimistic that macro improvements and the rollout of new initiatives, like food delivery, will benefit growth.