0900 GMT - JD.com will likely post solid 4Q results after a successful Double-11 shopping event and the Chinese government's trade-in program, Jefferies analysts write in a note. The Chinese tech company's 4Q total revenue growth may have accelerated to about 9.6% on year, Jefferies says. The company's retail operating profit may reach about CNY9 billion, thanks to stronger-than-expected revenue, they add. During the Double-11 shopping festival, the company saw solid user growth and robust engagement, they add. Jefferies maintains a buy rating on the stock and raises the target price to $60 from $54. The ADRs last closed at $35.42. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 17, 2025 04:00 ET (09:00 GMT)
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