BofA Keeps Buy on JD.com (JD) as Q4 Revenue Forecast Meets Expectations

Core Viewpoint - JD.com, Inc. is recognized as a favored stock by billionaire David Tepper, despite a recent price target reduction by BofA Securities from $38 to $36 while maintaining a Buy rating [1] Financial Performance - BofA Securities projects JD.com's total revenue for Q4 2025 to be RMB356 billion, reflecting a 2.6% year-over-year increase, aligning with market consensus [1] - JD Retail's operating profit is forecasted at RMB7.8 billion, indicating a 22% year-over-year decline attributed to substantial Singles Day subsidies, especially in the home appliances sector [2] - The group's non-GAAP net profit is expected to reach RMB0.9 billion, surpassing the street's estimate of RMB0.6 billion, with losses from new initiatives anticipated to decrease to RMB14.9 billion from RMB15.7 billion in Q3 [2] Company Overview - JD.com, Inc. is one of the largest e-commerce and technology companies in China, operating a comprehensive online retail platform supported by advanced logistics, supply chain management, and cloud services [3]