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<Research> BOCI Raises JD.com, Inc. (JD.US) TP to USD38; 1Q26 Results Beat
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BOCI issued a report stating that JD-SW (09618.HK) delivered better-than-expected results for 1Q26. Total revenue for the quarter increased 5% YoY, while adjusted net profit reached RMB7.4 billion, exceeding market expectations by 1% and 38%, respectively.

The broker believes the visibility of the companys sustainable profit growth has strengthened, driven by healthy earnings momentum in its core retail segment, accelerated revenue diversification from three key new business initiatives, and improved cost efficiency from prudent long-term investments, leading to enhanced unit economics.

Related NewsJD-SW 1Q Non-GAAP Net Profit Slips 42% to RMB7.38B, Way Above Estimates; ADR Once Up ~3% Premarket
Coupled with the companys firm execution of shareholder return measures, BOCI raised its US target price for JD.com, Inc. (JD.US) from USD34 to USD38 and maintained a Buy rating. (ha/u)
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