JD - JD.com's Expansion and Pricing Strategy Cited as Key Drivers for Future Success: Analyst | Benzinga
Mizuho analyst James Lee maintained JD.com Inc (NASDAQ:JD) with a Buy and raised the price target from $32 to $33.
On Wednesday, JD.com reported fourth-quarter fiscal 2023 revenue growth of 3.6% year-on-year to $43.1 billion, above the consensus of $42.2 billion. The adjusted net income per ADS of $0.75 beat the consensus of $0.63.
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JD Retail grew 3.5% YoY, improved from last quarter and above Street expectations, Lee flagged.
At the same time, he estimate GMV grew at a high-single-digit rate, excluding the impact of SKU optimization and restructuring.
Management indicated progress on expanding price matching from branded products while onboarding new merchants for white labels goods (nearly 1m 3P merchants).
Heading into the first quarter, Lee expects JD Retail ...