Sina Technologies News Beijing time on the evening of September 24, MKM Partners analyst Rob Sanderson downgraded its target price for Jingdong shares from $51 to $41, but still maintained a buy rating for Jingdong shares.
Jingdong shares fell 4.4% after the news. "Core retail business has been hampered by declining home appliance sales, but other areas remain robust," he wrote. "Expectations for Jingdong logistics have remained unchanged between triple-digit growth and a large investment cycle." In the 12 months since last year, the Jingdong's share price has fallen 37% in the context of the S & P 500 index's 17% rise. (tURL)
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