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Analysts raised their price target on JD.com Inc (NASDAQ:JD) following its Q3 beat and maintained their Buy rating.
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- Mizuho analyst James Lee raised JD.com's price target to $100 from $95, implying a 9% upside, and kept a Buy rating on the shares.
- The analyst notes that JD beat top and bottom-line expectations on strong execution due to its competitive advantage in supply chain and logistics.
- Citi analyst Alicia Yap increased the price target to $115 from $108 (suggesting a 25% upside), adding that JD's growth momentum will sustain into 2022 with gradual margin improvement. Yap maintained a Buy rating on the shares.
- UBS analyst Jerry Liu raised the price target on JD.com to $110 from $95, implying 20% upside, and kept a Buy rating.
- Jerry said JD.com's highly integrated supply chain, logistics, and direct sales model and skew towards higher-income shoppers provided a "clear edge" during a period of the supply chain, consumer confidence, as well as weather and COVID-19 related issues.
- Benchmark analyst Fawne Jiang increased JD.com's price target to $117 from $102, implying a 27% upside, and kept a buy rating on the shares.
- CLSA analyst Elinor Leung raised the price target on JD.com to $108 from $103, implying 18% upside, and reiterated a Buy rating on the shares following the "big beat" in Q3.
- Price Action: JD shares are trading higher by 3.98% at $91.61 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.