Chinese e-commerce giant JD.com dropped more than 5 per cent on Monday after Morgan Stanley slashed its price target to $25 from $37, the lowest on Wall Street.
The company's earnings will suffer well into next year due to slowing gross merchandise value growth, lighter margins, and accelerated investments, Morgan Stanley analyst Grace Chen said, according to Schaeffer's investment research. Chen remains "equal weight" rating for JD.com.
Shares of JD.com were under pressure earlier . . .
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