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<Research>CMS Forecasts JD.com, Inc. (JD.US) 1Q24 Rev. Growth to Continue to Outperform Mkt
CMS released a research report estimating that JD.com, Inc. (JD.US)'s 1Q24 revenue will reach RMB257 billion, up 5.8% YoY, while JD Retail's revenue will grow 4.8% YoY. JD....
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<Research>CMS Forecasts JD.com, Inc. (JD.US) 1Q24 Rev. Growth to Continue to Outperform Mkt
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CMS released a research report estimating that JD.com, Inc. (JD.US)      's 1Q24 revenue will reach RMB257 billion, up 5.8% YoY, while JD Retail's revenue will grow 4.8% YoY.

JD.com, Inc. said that merchandise turnover recorded good high single-digit YoY growth from January to February, faster than the 5.5% YoY growth in retail sales. Meanwhile, January was the strongest month in 1Q24, with February and March being weaker.

Related NewsUBS' Top Pick in CN E-commerce Sector PDD (PDD.US), Followed by JD.com, Inc. (JD.US)
JD.com, Inc.'s valuation is still at a low level, with the current valuation equivalent to a forward PE ratio of 7.8x/ 6.9x for FY2024/ FY2025, according to the report.

The Company's insistence on a low-priced strategy, RMB10 billion subsidies and content ecosystem construction began to achieve initial success in stabilizing its market share.

CMS slightly revised its earnings estimation for JD.com, Inc., and kept its target price unchanged at US$36, with rating at Overweight.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Related NewsG Sachs Reinstates JD.com (JD.US) at Buy, as Revenue Growth Recovers

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