Macquarie: Maintains JD-SW "Outperform" rating and raises target price to HKD 230
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Macquarie released a research report stating that it maintains the "Outperform" rating for JD Group-SW and raised the target price for H shares from HKD 225 to HKD 230. The firm believes that JD's performance in the fourth quarter is solid, supported by the trade-in program, which also boosts other product categories. It expects the trade-in support to continue in the first half of this year and anticipates that JD's delivery service will enhance user engagement
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