Glonghui, March 8 | UBS released a report stating that JD's fourth quarter profit for the fourth quarter of 2023 was higher than expected and reaffirmed its commitment to returns to the company's shareholders. UBS raised JD's target price from $36 to $37, maintaining a “buy” rating. JD management expects total commodity transaction volume (GMV) growth in 2024 to outperform retail sales in China; the company's trading users and 3P merchants are also experiencing accelerated growth, and related trends are expected to continue until the first quarter of 2024. The bank indicates that the above factors will lead JD's revenue to grow 7% year-on-year in 2024.
大行评级｜瑞银：上调京东目标价至37美元 维持“买入”评级
Major Bank Ratings | UBS: Raising JD's Target Price to $37 to Maintain “Buy” Rating
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