- JD.com (NASDAQ:JD) has given back Monday's strong post-earnings gains, down 4.6% in U.S. trading, as analyst reactions come in to the Q3 report.
- Morgan Stanley (NYSE:MS) downgraded the stock to Equal Weight from Overweight, pointing to hotter competition in apparel (and more than 100 domestic apparel brands have left the platform, analyst Grace Chen notes).
- The stock's still got a unique value proposition, the firm says, but investors may want to seek a "better reentry point to play the long-term margin expansion story," Chen writes.
- She cut her price target to $45 from $53, implying just 14% upside.
- Elsewhere, JD.com got boosted price targets. Nomura raised its target to $52 from $49 and held its Buy rating, while Pacific Crest raised its target to $51.
- CLSA reiterated its Buy rating and a $56 price target, implying 42% upside.
- Now read: Alibaba (NYSE:BABA) And JD: Mom-And-Pop Shops Are Dead, Long Live Mom-And-Pop Shops!
Original article