JD.com Stock (NASDAQ:JD) Gains: Price Target Cut, as Citi Remain Bullish
JD.com’s stock (NASDAQ:JD) is 3% higher in early trading on the NASDAQ, even as several financial firms lowered their price targets for the e-commerce giant. The contrasting movement reflects a complex interplay of market sentiment, strategic initiatives, and concerns over near-term performance.
Citi Cuts Price Target, Remains Bullish
Despite the positive price action, Citi lowered its price target on JD.com from $44 to $37, while maintaining a Buy rating. The adjustment reflects concerns about a “steepening decline” in home appliance sales, with expectations that December sales figures will weaken relative to November. Citi suggests limited catalysts for the shares in the near term, anticipating downward revisions to…
