01:40 PM EDT, 07/17/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our target price of USD37 (from USD50) is 13x 2026 EV/EBITDA, comparable to the peer average, balancing JD's stronger e-commerce business with business uncertainties in food delivery. We forecast revenue growth of 12%/7% in 2025/2026. We expect JD's rapid expansion into food delivery to boost revenue growth beyond the 6.8% in 2024, after achieving 25 million daily orders by late June. For e-commerce, increased value-for-money products, China's expanded home appliance trade-in program, and government subsidies for electronics purchases will support revenue growth, in our view. We project softer net margin of 1.4% in 2025 (2024: 3.6%), before recovering to 2.1% in 2026. As JD ramps up food delivery spending, we expect upfront investments to weigh on near-term margins. However, we think spending on user incentives may gradually taper off as the user base approaches critical mass, supporting a margin recovery in 2026. We lower our 2025 EPADS forecast to CNY11.69 from CNY29.37 and 2026's to CNY19.41 from CNY32.38.