CICC International: Raises JD.com's target price to $60, short-term growth momentum is on track

Guotai Junan International released a research report stating that it is expected that JD.com's total revenue in the third quarter will reach 259.8 billion yuan, a year-on-year increase of 4.9%; adjusted net profit is 11.1 billion yuan, indicating a year-on-year increase of 4%, in line with market expectations. Due to the government's strengthened household appliances replacement plan, positive growth in 3C and household appliance products is expected. The bank believes that under the impetus of the replacement plan, JD.com's growth momentum has already entered the right track in the short term, maintaining its "outperform the market" rating, with the target price raised to $60