UBS lowered the firm’s price target on JD.com (JD) to $50 from $58 and keeps a Buy rating on the shares. The market has not yet fully accounted for JD’s investments amid JD’s expansion in food delivery order volume since April and the recent rise in competition, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JD:
- JD’s Hold Rating Amidst Profit Decline and Competitive Pressures in Food Delivery Investment
- Bullish flow in JD.com with shareslittle changed
- Bullish flow in JD.com with shares up 0.61%
- JD.com downgraded to Neutral from Buy at Arete
- JD.com’s Founder Targets Massive Revamp Following ‘Lost Five Years’