Freedom Capital lowered its price target for JD.com, Inc. (NASDAQ:JD) to $47 from $57 on January 7, while keeping a Buy rating. The firm stated that the company's "aggressive" advertising spending is affecting profitability.
Citi also cut its price target for JD.com to $37 from $44, maintaining a Buy rating. It cited a "steepening decline" in home appliance sales and anticipated weak December sales compared to November. Citi noted limited near-term catalysts for the shares and expects consensus estimates for fiscal Q4 and 2026 to drop.
Separately, JINGDONG Property, JD.com's infrastructure investment arm, announced an investment in a new logistics facility at the Special Integrated Logistics Zone in Saudi Arabia on December 30. Management said the project supports Saudi Arabia's National Transport and Logistics Strategy, Saudi Aviation Strategy, and Vision 2030.
The facility will be located in the Riyadh Integrated Logistics Zone and developed as a Grade-A warehouse. It is strategically positioned an eight-minute drive from King Khalid International Airport, the kingdom's busiest cargo airport, and about 28 km from Riyadh city center. This location allows direct access to global air routes through a bonded corridor and enables efficient urban delivery.