[ET Net News Agency, 17 November 2020] Credit Suisse raised its target price for
JD.com, Inc. (09618) to HK$415 from HK$380 to bake in a higher valuation of JD Health
(US$30bn) and maintained its "outperform" rating.
The research house said JD's 3Q revenue beat by 3% with solid revenue growth led by the
high-frequency general merchandised service.
Credit Suisse expects revenue to accelerate to 30% in 4Q on the back of strong 11.11
performance (Gross Merchandise Volume [GMV] up 33%) and the benefit of delayed new iPhone
launch. It also expects JD's strength in supply chain and fulfillment capacity to support
sustainable growth and steady margin expansion. (KL)