京东集团_寒冬将至-JD.com, Inc._ Winter Is Coming

Winter Is Coming | What's Changed | | | | --- | --- | --- | | JD.com, Inc. (JD.O) | From | To | | Rating | Equal-weight | Underweight | Tapering trade-in effects and incessant investment in new businesses are set to significantly slow JD's revenue growth and structurally erode its margins and ROE in the long term – hence weakening its ability to improve shareholder return. Downgrade to UW. M Worst positioned Chinese e-Commerce stock in the next 12 months: JD had benefited the most (vs. other e-Commerce plat ...