Citi opens ‘positive catalyst watch’ on JD.com

Citi analyst Alicia Yap opened a “90-day positive catalyst watch” on shares of JD.com (JD) while reiterating a Buy rating on the name with a $51 price target The company kicked off the new year by leading the continuation of national trade-in programs for 2025 through collaboration with major provinces like Hubei, Jiangsu and Hunan, the analyst tells investors in a research note. The firm says JD’s platform covers over 200 qualified subcategories with consumers participation from over 90% of counties and rural areas. Citi believes the strength of JD’s platform and its ability to capture the continuation of trade-in initiatives “might have been underappreciated by investors.” The company’s early mover positioning in trade-in programs should support potentially stronger than expected merchandise volume and revenue growth in the first half of 2025 with upside risks to consensus estimates, contends Citi.