Jd.com Group (09618) stock price strengthened in the afternoon, up 3.53% as of press time, at HK$173, with a turnover of 2.275 billion Hong Kong dollars.
On the news front, UBS Group released a research report, believing that JD.com is most capable of capturing potential macroeconomic stimulus factors in the short term, including the home appliance 'trade-in' plan, real estate market measures, and consumer coupons. In the medium term, JD.com may benefit from continuous margin expansion, including a more favorable product structure and scale improvement; better procurement efficiency; earning higher advertising and commission income from third-party business; and improving JD.com's delivery efficiency. UBS has raised JD.com's US stock target price from $43 to $64; H-share target price from HK$168 to HK$250, while maintaining a "buy" rating.
In addition, JD.com announced that the 2024 November 11 shopping festival-related will start at 8:00 p.m. on October 14th. The various platforms started the November 11 shopping festival-related events around October 24th in 2022 and 2023. Based on this calculation, JD.com and Taobao started the November 11 shopping festival-related about ten days earlier this year.
