JD.com's Hong Kong Shares Hit 5-Week Peak, Jefferies Lifts Price Target
Hong Kong-listed shares of Chinese online retailer JD.com 9618.HK jump 4.4% to HK$146.30, their highest since Dec. 12, 2014, and on track for a fourth straight session of gains.
JD.com U.S. shares also gained 5.9% in overnight trading.
Stock on course for its biggest one-day gain since Oct. 4, 2024; second-biggest pct gainer in Hang Seng Tech Index .HSTECH and third-biggest in Hang Seng Index .HSI, which add 1.1% and 0.3%, respectively
Jefferies maintains "Buy" on the stock and lifts price target to HK$60 from HK$54, on expecting JD to demonstrate strong execution in 4Q with solid performance post successful Double-11 on top of beneficiary to trade-in programs
"In 4Q, we revise up total revenue and non-GAAP earnings factoring in better-than-expected performance in JD Retail revenue and segment OPM amid ROI approach in spending" - Jefferies
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