Press "Enter" to skip to content

JD.com tumbles after target price slashed by Wall Street

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

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 . . .

To continue reading, please subscribe. You will get

 

  • IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
  • DETAILS MATTER - we bring you details that you won't find elsewhere
  • THE WIRE  - up-to-the-minute updates of market-moving news and views
  • DAILY BRIEF - daily newsletter to give you a quick overview of the most important business news every day.

FREE TRIAL cancel anytime

LIMITED-TIME OFFER - 50% OFF

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. 

Already have an account? Sign In

Top