Form 6-K JD.com, Inc. For: Aug 31
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Cowen Comments on JD.com (JD) Following Q2 Results; Affirms 'Market Perform' Rating
August 18, 2014 8:12 AM EDTCowen and Company affirms JD.com (Nasdaq: JD) at Market Perform with a price target of RMB31 following Q2 results.
Analyst John Blackledge noted that JD's Q2 results were solid with GMV growth of 107% y/y and net revenues up 64 percent y/y, 9 percent better than our estimates. Results were modestly offset by higher cost, but JD is appropriately investing and demonstrating solid traction in all key growth metrics. We tweaked est's modestly... More
