JD.com price target raised to $51 from $48 at BofA

BofA raised the firm’s price target on JD.com (JD) to $51 from $48 and keeps a Buy rating on the shares following what the firm calls a “clean beat on both top and bottom lines” in Q4. Management expects government’s stimulus policies, including continued trade-in subsidies, to underpin this year’s consumer sentiment and feels confident to outgrow the industry, the analyst tells investors.