Analysts See This Alibaba Rival As Structural Share Gainer In China's eCommerce Industry - JD.com (NASDAQ:JD)

Mizuho analyst James Lee reiterated Buy on JD.Com, Inc JD with an $82 price target.
JD beat profitability expectations meaningfully on improved efficiency and cost controls.
The company improved the unit economics of core eCommerce while cutting back losses in CGB.
Although the 4Q22 top-line growth would be soft compared to Street expectations due to elevated COVID cases and a slow macroeconomic environment, net income margins should expand by 60 bps due to disciplined expense management.
The short-term setback is not structural and leaves FY24 EBITDA of 48 billion RMB unchanged.
Lee maintained JD.Com, a top internet pick, as a structural share gainer in the eCommerce industry.
Benchmark analyst Fawne Jiang reiterated Buy and price target to $100.
As China is experimenting with a gradual reopening, he anticipates case uptick and, consequently, logistics disruptions in the near quarters.
As such, Jiang decided to take a conservative approach and lowered our 4Q22 and FY23 revenue estimates.
Nevertheless, mobility improvement should work in favor of gradual macro recovery and boost consumption.
JD’s revenue growth could reaccelerate through FY23.
In addition, structural factors that drive sustained margin improvement should help protect earnings risks despite short-term revenue uncertainties.
Price Action: JD shares traded lower by 6.66% at $52.34 on the last check Monday.