Jefferies: JD.com's second-quarter non-GAAP profit exceeded expectations, raising the company's target price

Investment bank Jefferies stated that JD.com's second-quarter profit under non-general accounting principles exceeded expectations, while management emphasized the company's robust growth momentum in customer base and purchase frequency, maintaining a buy rating on the company. Jefferies analysts, including Thomas Chong, pointed out in the report that JD.com's second-quarter total revenue increased by 1.2% year-on-year, in line with expectations. The target price for JD.com's ADR was raised from $41 to $43