京东（买入评级）：期望从货运业务培育新的增长动力

JD.com JD.OQ JD US EQUITY: MEDIA & INTERNET Aspires to cultivate a new growth driver from FD JD Retail business remains solid; maintain Buy with a lower TP of USD52 Stronger-than-expected 1Q results; full-year revenue guidance raised JD reported stronger-than-expected 1Q25 results. Its non-GAAP EPS increased 49% y- y, 25%/15% above Bloomberg consensus/our forecasts; and revenue grew 16% y-y, 4% above the consensus estimate of 12% growth. The company also raised the FY25E revenue guidance from "high-single-d ...