JD - JD.Com's Cost Management In Focus - Analyst Maintains Core GMV Growth Assumptions | Benzinga
Benchmark analyst Fawne Jiang reiterated a Buy rating on JD.Com, Inc (NASDAQ:JD) with a price target of $55.
Against a backdrop of healthy China retail/e-commerce growth in the first quarter, the analyst anticipates that JD should track largely on par with its guidance and expectations.
The analyst maintained core GMV growth assumptions that should grow at HSD year over year. Jiang also sees upside potential on earnings estimates thanks to disciplined cost management.
The analyst’s first quarter revenue projection is unchanged (+6% y/y). However, the non-GAAP NPM estimate is raised to 2.8% (vs. 2.6% prior).
For FY24, the analyst sees GMV ...