JD.com May Benefit From Coming Promotional Campaign, Trade-In Program -- Market Talk

Dow Jones05-17

0333 GMT - JD.com may benefit from the coming promotional campaign and China's trade-in program, say Citi analysts led by Alicia Yap, noting the e-commerce giant's 1Q results were a solid beat. They highlight management's remarks on initial preparation work with appliance brands and local government in planning trade-in appliance initiative. JD.com will also kick-off its shopping festival on June 18, where it is expected to implement a low-price strategy and offer differentiated products, the analysts note. They keep a buy rating, with a target price of US$43.00 on the ADR. The ADRs last closed at US$34.27, while the Hong Kong-listed shares are 0.1% higher at HK$132.50. (Tracy.qu@wsj.com)

(END) Dow Jones Newswires

May 16, 2024 23:33 ET (03:33 GMT)

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JD.com will also kick-off its shopping festival on June 18, where it is expected to implement a low-price strategy and offer differentiated products, the analysts note. They keep a buy rating, with a target price of US$43.00 on the ADR. The ADRs last closed at US$34.27, while the Hong Kong-listed shares are 0.1% higher at HK$132.50. 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