As previously reported, Macquarie upgraded JD.com (JD) to Outperform from Neutral with a price target of $35, up from $25, citing improving earnings visibility from narrowing quick commerce losses and disciplined European expansion under the JoyBuy brand. Ahead of Q1 results, the firm updated its estimates and believes the market has “largely priced in” JD Retail’s high base effect from trade-in policies.
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Read More on JD:
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