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Morgan Stanley Downgrades JD.com Stock Ahead of Q3 Earnings

Morgan Stanley Downgrades JD.com Stock Ahead of Q3 Earnings

Published:
2025-11-10 13:22:02
11
2
BTCCSquare news:

Morgan Stanley analyst Eddy Wang has downgraded JD.com (JD) from Hold to Sell with a $28 price target, citing margin pressures and fading benefits from China's trade-in policy. The e-commerce giant reports Q3 earnings on November 13 amid an 8% YTD stock decline.

Wall Street expects $0.39 EPS on $41.4 billion revenue. JD's heavy exposure to appliances and electronics made it the prime beneficiary of trade-in subsidies, but Wang warns this tailwind is dissipating. The downgrade reflects intensifying competition and margin erosion from delivery investments.

|Square

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