Major Bank Rating | Nomura: Increases JD.com target price to $41, reiterates "Buy" rating

Golden Ten Data May 15th｜Nomura released a research report stating that JD.com's first quarter results exceeded expectations. Total net revenue increased by 4.9% year-on-year, and JD Retail's operating profit rose by 16% year-on-year to 15 billion yuan, which is 16% higher than the bank’s forecast. An institution believes JD.com's profit structure has obviously improved, raising the company’s 2026 and 2027 non-GAAP net profit forecasts by 15% and 5% respectively, to reflect the increase in JD Retail profits and the narrowing losses in its real-time e-commerce business. The institution maintains a “Buy” rating for JD.com’s US stock and raises the target price from $40 to $41.