Goldman Sachs Increased’s Target Price to $56

Goldman Sachs (GS) has a positive outlook on (JD).

Sarah Sands - Author

Sep. 11 2017, Updated 1:36 p.m. ET


Goldman Sachs on

Goldman Sachs (GS) has a positive outlook on (JD). The company operates as an e-commerce platform in China (YINN) (FXI) and mainly focuses on the delivery of electronic, auto parts, mobile devices, and home appliance products directly to consumers.

As the demand for these products grows at a high rate in faster-growing economies like China (ASHR), the demand for timely delivery of these products could also increase. The investment firm raised its current target price for to $56.

Goldman Sachs wrote, “For China’s largest mobile/computers/IT retailer, we forecast further penetration in appliances (low vs. electronics), groceries (through omnichannel initiatives with Walmart, Daojia Dada), and apparel (cross-selling from JD Supermarket, investment in Farfetch).”

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Article continues below advertisement’s performance was trading at $41.15 on September 8, 2017. Its 52-week high is $48.99 and its 52-week low is $23.38. On a year-to-date basis, the stock returned nearly 59.4% as of September 8, 2017. The broader market S&P 500 Index (SPY) returned nearly 9.7% during the same period. Over a five-year period, returned nearly 64.6%. is trading at par with its 100-day moving average, 3.7% below its 50-day moving average, and 3.2% below its 20-day moving average.

In the next part of this series, we’ll analyze Goldman Sachs’s view on Yandex (YNDX).


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