JD.Com Inc (NASDAQ:JD) shares are trading higher after Atlantic Equities initiated coverage on the stock with an Overweight rating and announced a $100 price target.

Shares of Chinese companies, including JD.com, were otherwise trading higher last week amid hopes of a regulatory easing in the real estate space. The country has also reportedly urged increased real estate lending.

See Also: Why Rivian Shares Are Trading Lower Today

JD.com is China's second-largest e-commerce company after Alibaba in terms of transaction volume, offering a wide selection of authentic products at competitive prices, with speedy and reliable delivery. The company has built its own nationwide fulfillment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.

JD.com has a 52-week high of $108.29 and a 52-week low of $61.65.