The average brokerage recommendation (ABR) for JD.com (JD) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
Chinese e-commerce giant JD.com said Tuesday it will raise $1.75 billion through a convertible notes offering, which was upsized from a $1.5 billion target announced earlier in the day. JD stock fell on the news. The company will use the proceeds to buy back some of its shares, expand its overseas business and improve its supply chain network, according JD's news release.
BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced the upsizing and pricing of its previously announced offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.75 billion due 2029 (the “Notes”). The Notes have been offered to persons reasonably believed to be qualified institutiona