2022-07-07 07:02:43 JD JD.com
07/07/22 07/0707:02 07/07/2207:02 | JD.com quarter tracking modestly below expectations, says MizuhoMizuho analyst James Lee says JD.com remains his top China pick after hosting an investor call with management. Consumer demand "recovered nicely" as revenue growth accelerated to 10% year-over-year during the June promotion, Lee tells investors in a research note. The analyst says that while the quarter appears to be tracking modestly below expectations, he still sees JD as a long-term e-commerce share gainer. Heading into the second half of 2022, the analyst expects incremental government support to drive consumer spending, including the expansion of consumption vouchers. Lee keeps a Buy rating on JD.com with a $90 price target. |
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