JD.com, Inc (JD) PT Raised to $35 at China Renaissance Following 4Q Top-Line Beat; Category Expansion in Focus

China Renaissance analyst Ella Ji raised its price target on JD.com, Inc (NASDAQ: JD) to $35.00 (from $32.00) while maintaining a Buy rating, noting management's 2017 focus on category expansion, as the company reported 2016 fourth revenues, revenue growth and EPS above consensus.

Ji comments, "We reiterate our Buy rating and raise our target price to $35 from $32, after increasing our 2017E revenue estimate from $49.7B to $50.4B (6.94 USD:RMB) on the back of a strong 4Q16."

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