0629 GMT - JD.com's 4Q revenue growth may strengthen thanks to the government's trade-in program, HSBC Global Research analysts write in a note. As the government extended its trade-in program and expanded it to consumer electronics, JD. com will continue to benefit from the policy this year, they say. Since better user traction can enhance fast-moving consumer goods demand and marketplace monetization can continue to ramp up, the company's revenue could see further growth, they add. HSBC Global Research expects JD.com to book 10.5% higher revenue in 4Q 2024 at CNY338 billion. The brokerage maintains buy rating on the ADRs and a target price of $53.00. Its ADRs last closed at $39.00.. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 20, 2025 01:29 ET (06:29 GMT)
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