JD.com, Inc. (NASDAQ:JD), China’s largest online direct sales company, announced partnerships with Australian brands Blackmores, a leading Australian natural health company, and Sanger Australia, the Australian meat sales and marketing business of the Bindaree Beef Group. Both brands will be available through JD.com’s direct sales channel and will use the company’s industry-leading same-day delivery capabilities. Sanger Australia will also leverageJD.com’s cold chain logistics network to ensure that its meat products are delivered fresh to Chinese customers from Australia.
The announcements follow the successful launch in late June of a dedicated Australian Mall for authentic imported Australian products on JD.com’s cross-border platform, JD Worldwide. Since its launch, dozens of Australian brands have successfully sold their products to Chinese consumers through Australian Mall. The most popular product categories in the first two months of the program include healthcare, baby care products and fresh food.
“We’re pleased to be working with leading Australian brands to build winning ecommerce strategies for this market and help them take advantage of our large and growing base of upwardly mobile Chinese consumers,” said Carol Fung, Vice President of JD.comand President of JD.com’s FMCG Business Unit. “Blackmores is a long-time partner, and we are very excited to be expanding the range of their outstanding healthcare products available to our rapidly growing user base. With demand for Australian fresh produce growing exponentially, the addition of Sanger Australia’s world-class beef to our platform is an outstanding development for our customers.”
“We are delighted that our products will be available to China’s online shoppers via JD.com,” said Sanger Australia CEO James Campbell. “We pride ourselves on providing best-in-class Australian meat and JD.com can provide the high-quality logistics infrastructure to ensure our customers can enjoy the freshness and premium quality of our meat.”
“We’ve been working with JD.com since 2013, and our increased engagement is testament to our strong relationship and commitment to growing our China business,” said Blackmores Asia Managing Director Peter Osborne. “Working with JD.com not only ensures we get our products to consumers quickly, but will also enable us to initiate targeted and specialized marketing campaigns leveraging JD’s data analytics capabilities. We are also very pleased to be expanding our cooperative education programs with JD.com to help consumers increase health and wellbeing awareness regarding natural healthcare.” (Original Source)
Shares of JD.com Inc closed yesterday at $27.1. JD has a 1-year high of $38 and a 1-year low of $21.55. The stock’s 50-day moving average is $30.90 and its 200-day moving average is $31.63.
On the ratings front, JD has been the subject of a number of recent research reports. In a report issued on August 10, Morgan Stanley analyst Robert Lin downgraded JD to Hold, with a price target of $35, which implies an upside of 29.2% from current levels. Separately, on August 4, Tiger Hill Capital’s Tian Hou assigned a Buy rating to the stock and has a price target of $39.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Lin and Tian Hou have a total average return of -16.7% and -9.4% respectively. Lin has a success rate of 20.0% and is ranked #3301 out of 3741 analysts, while Hou has a success rate of 30.8% and is ranked #3462.
Overall, one research analyst has assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $39.50 which is 45.8% above where the stock closed yesterday.
JD.com Inc is an online direct sales company in China. The Company acquires products from suppliers and sell them directly to its customers through its website and mobile applications.