UBS Raises JD.com (JD.US) Price Target to US$37 After Strong Quarterly Results

UBS raised its target price on JD.com, Inc. from US$36 to US$37 following the company's higher-than-expected 4Q23 margins and reaffirmed commitment to shareholder returns.

The research report highlights JD.com's management expectations for GMV growth to surpass China's retail sales in 2024, with accelerating growth in transacting users and 3P merchants anticipated to continue through 1Q24.