.Friday, July 12, 2024 09:50 AM

Benchmark analysts have reaffirmed a Buy rating on JD.com (NASDAQ:JD) stock with a $55 price target. Q2/24 Gross Merchandise Volume growth is expected to lag due to weaker performance in electronics and home appliances. Revenue growth projection for Q2 has been adjusted down from 6% to 1% year-over-year. However, JD’s adoption of rational promotional strategies could boost profitability, leading to an increased adjusted Net Income Margin projection of 3.4%. Despite potential Q2 sluggishness, analysts are optimistic about the second half of 2024, citing growth in active buyers, purchase frequency, and recovery in General Merchandise category.