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Stock impact report

Alibaba downgraded by Morgan Stanley, which says PDD is top China e-commerce play [MarketWatch]

JD.com, Inc. - American Depositary Shares (JD) 
Last jd.com, inc. - american depositary shares earnings: 3/2 05:03 am Check Earnings Report
US:NASDAQ Investor Relations: ir.jd.com
Company Research Source: MarketWatch
The bank said a fundamental turnaround is happening more slowly than it had assumed for both Taobao and Tmall and the cloud business, though it said there's limited downside to current valuation levels. Meanwhile, the firm said it's top pick in Chinese e-commerce is PDD Holdings PDD, as it notes the company's extensive low-price but high quality supply chain, and also said investors have not yet assigned meaningful value to Temu. JD.com's JD, price target was lowered to $30 from $33 and its rating was kept equal-weight. Advertisement Read Next About the Author Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein. Show less Read more
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