[ET Net News Agency, 18 November 2020] Daiwa Research lifted its target price for
JD.com (09618) to HK$425 from HK$367 and reiterated its "buy" rating.
The research house said JD.com reported a solid set of 3Q results. Daiwa believes its
leading position in the online grocery retail business and reinvestment strategy present
upside risk to the market's revenue forecasts for 4Q and 2021, and Daiwa sees further
market-share gains in local retail as a re-rating factor.
On the regulatory front, Daiwa views JD as less impacted by the antitrust rules compared
to its e-commerce peers and believes it could be a beneficiary if competition eases.
It raised its 2020-21 EPS forecasts by 2% mainly on the higher-than-expected 3Q margins.
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09618 JD-SW
Nominal 
97.300 -0.750 (-0.765%) Research Report
18/11/2020 10:53
{I-bank focus}Daiwa lifts JD.com (09618) to HK$425; "buy"
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