04:10 AM EDT, 08/15/2025 (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:

We trim our 2025/2026 EPADS forecasts to CNY11.11/CNY18.44 (from CNY11.69/CNY19.41) to reflect higher food delivery spending estimates. Our target price of USD36 (from USD37) represents 13x 2026 EV/EBITDA estimate, comparable to the peer mean, balancing JD's stronger e-commerce business with food delivery uncertainties. We forecast revenue to grow 20%/15% in 2025/2026, led by JD's rapid expansion into food delivery, which achieved 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 a softer net margin of 1.2% in 2025 (2024: 3.6%), before recovering to 1.7% in 2026. As JD ramps up food delivery spending, we expect upfront investments to weigh on near-term margins. However, in our view, spending such as user incentives may gradually taper off as the user base approaches critical mass, supporting a margin recovery in 2026.