0623 GMT - JD.com's earnings are set to benefit further from the government's expanded consumer goods trade-in program, Nomura analysts write in a note. While sales of home appliances have slowed due to front-loaded demand, laptop sales have sustained their momentum, they say. Meanwhile, sales of smartphones could get a boost after the government increased the number of categories eligible for subsidies under the program, the analysts say. Nomura raises its 2025 revenue forecast by 4%, as it now expects JD.com's retail segment to post a 8.3% increase in revenue. The Chinese online retailer's guidance was also higher than expected, it notes. The brokerage maintains a buy rating and raises the target price on ADRs to $55.00 from $50.00. JD.com last closed at $42.29. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 10, 2025 02:23 ET (06:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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