JD · Archive

JD · Monthly research archive

Every month we publish a fresh rating. Read prior months' commentary, ratings, and price trend at a glance.

2026-05Achat fort

JD May 2026 · strong-buy

JD.com is a mature quality compounder with a highly defensible owned-logistics network. However, intense price competition from PDD and sluggish consumer demand in China restrict near-term growth and margin expansion, warranting a heavily discounted terminal multiple.

$32.38