BofA lowered the firm’s price target on JD.com (JD) to $44 from $48 and keeps a Buy rating on the shares. JD reported “strong” Q1 results, fueled by JD Retail acceleration, the analyst tells investors. Following the report, the firm raised its 2025-26 revenue forecasts by 3%-4% on faster JDR growth and incremental food delivery revenue, but cut non-GAAP net profit forecasts by 3%-10% to reflect food delivery investments, the analyst noted.
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