Analysts Remain Bullish On This E-Commerce Giant, Bump Up Price Target

Analysts raised their price target on JD.com Inc JD following its Q3 beat and maintained their Buy rating.

• Mizuho analyst James Lee raised JD.com's price target to $100 from $95, implying a 9% upside, and kept a Buy rating on the shares.
• The analyst notes that JD beat top and bottom-line expectations on strong execution due to its competitive advantage in supply chain and logistics.
• Citi analyst Alicia Yap increased the price target to $115 from $108 (suggesting a 25% upside), adding that JD's growth momentum will sustain into 2022 with gradual margin improvement. Yap maintained a Buy rating on the shares.
• UBS analyst Jerry Liu raised the price target on JD.com to $110 from $95, implying 20% upside, and kept a Buy rating.
• Jerry said JD.com's highly integrated supply chain, logistics, and direct sales model and skew towards higher-income shoppers provided a "clear edge" during a period of the supply chain, consumer confidence, as well as weather and COVID-19 related issues.
• Benchmark analyst Fawne Jiang increased JD.com's price target to $117 from $102, implying a 27% upside, and kept a buy rating on the shares.
• CLSA analyst Elinor Leung raised the price target on JD.com to $108 from $103, implying 18% upside, and reiterated a Buy rating on the shares following the "big beat" in Q3.
• Price Action: JD shares are trading higher by 3.98% at $91.61 on the last check Friday.