JD - JD.Com's Retail Revenue To Fall In Q3: Analyst Reviews Sluggish Macro Trends In China | Benzinga
Benchmark analyst Fawne Jiang reiterated a Buy rating on JD.Com, Inc (NASDAQ: JD), lowering the price target to $67.
Jiang lowered 2H23 revenue estimates on JD, projecting a y/y growth at low single-digit vs. mid-single digit prior.
The analyst highlighted softer-than-expected Q3 China retail/e-commerce growth and a tough comp y/y on their leading electronic and home appliance SKUs (air conditioning, smartphones).
Jiang also cautioned about the disruption associated with their business adjustments and organizational restructuring that may take longer than expected to normalize.
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