0702 GMT - JD.com is expected to post higher revenue in 4Q, thanks to China's trade-in program to boost domestic consumption, especially for home appliances and electronic goods, Nomura says. The Chinese e-commerce giant's 4Q revenue from electronic goods likely rose 10% on year, accelerating from a 3% rise in the prior quarter, analysts Jialong Shi and Rachel Guo write in a note. Early Lunar New Year promotions probably helped its general merchandise revenue, which is expected to grow 10%, they add. The analysts maintain a buy rating on the U.S.-listed stock with a target price of US$50.00. JD.com's ADRs last closed 10% higher at US$39.00; its H shares are 6.5% higher at HK$156.30. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
January 20, 2025 02:02 ET (07:02 GMT)
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