Great Wisdom on September 26th | JD.com (JD.US) rose 7.23% in pre-market trading to $35.61. JPMorgan released a report indicating that since Walmart fully divested its holdings at the end of August, JD.com's H shares and ADR stock prices have rebounded by 24% and 27% respectively, outperforming the KraneShares CSI Internet Index and major e-commerce peers during the same period, mainly attributed to positive news on the appliance trade-in policy and low valuation. The bank expects JD.com to have profit-taking in the short term, but does not believe that outperforming the market has ended, as it expects revenue to improve to single-digit year-on-year growth in the third and fourth quarters. The bank reiterated its 'shareholding' rating, and raised the target price of JD.com's US and H shares from $36 and HK$140 to $40 and HK$155 respectively.
美股异动丨京东盘前涨超7% 获摩通上调目标价至40美元
US stocks unusual movement: jd.com rose more than 7% before the market, and its target price was raised to $40 by Morgan Stanley.
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