Why JD.com Finished Higher Today
Shares of JD.com (NASDAQ: JD) were moving higher today after the Chinese e-commerce company got a bullish note from Bernstein. Bernstein analyst Robin Zhu initiated coverage this morning on JD.com with an outperform rating and a price target of $120, representing 26% upside from the closing price on Jan. 22. Zhu saw a continuation in the market share shift from offline to online retail, noting that JD and other Chinese internet companies have strong access to capital, large troves of data, and impressive track records of entering new markets, including logistics and telehealth.
