JD.com price target raised to $50 from $43 at Mizuho

Mizuho raised the firm’s price target on JD.com (JD) to $50 from $43 and keeps an Outperform rating on the shares. The company reported a “clean beat” with revenue acceleration and margin expansion due to government trade-in programs in appliances and consumer electronics, and improved selection in the supermarket category, the analyst tells investors in a research note. The firm cites JD’s strong results and outlook for the target increase.