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JD.com price target lowered to $53 from $58 at Benchmark

Benchmark lowered the firm’s price target on JD.com (JD) to $53 from $58 and keeps a Buy rating on the shares. JD delivered “strong” Q1 results, significantly exceeding expectations on both revenue and net profit, the analyst tells investors. Building on this strong start and sustained momentum into Q2, JD raised its FY25 guidance for JD Retail, projecting double-digit growth in both revenue and net profit for the segment, the analyst added. JD also entered the food delivery market and achieved “impressive traction,” notes the analyst, who views the move as strategic and sees significant potential in both food delivery and the broader on-demand retail ecosystem, but notes that the investment introduces margin uncertainty for the remainder of the year and possibly longer.

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