Why JD.com's Shares Rose 10.4% Last Month
Shares of JD.com (NASDAQ: JD) gained 10.4% in October 2019, according to data from S&P Global Market Intelligence. The Chinese e-commerce leviathan enjoyed easing trade tensions between Beijing and Washington along with a rosy analyst report.
The improving tenor in trade-talk posturing was a boon to many Chinese stocks last month, including several of JD's closest peers in the e-commerce sector. Group-shopping discounts wrangler Pinduoduo (NASDAQ: PDD) saw share prices rise 27% while sector-spanning online shopping giant Alibaba (NYSE: BABA) posted a gain of 5.6%, for example. That's one ingredient in JD's solid October gains.
The other half of those price gains came from analyst firm 86Research publishing a strongly positive research report on the stock on Oct. 11. The firm lifted JD from a "hold" to a "buy" while boosting target prices from $35 to $41 per share. The stock was trading near $28 per share before that report and nearly $30 per share later that day.
Source Fool.com
