E-commerce company JD.com’s (JD) fresh food business, JD Fresh, has entered into a partnership with JBS Foods, a leading global food company. As per the agreed terms, JBS will launch a flagship store on JD.com.
With this deal, JD.com will be able to provide customers with a wide selection of beef products from many countries, such as Brazil, the United States, Australia, and more.
In order to maintain the quality and supply chain stability, JD Fresh said that it will directly purchase from JBS’ factories in Brazil on a regular basis. By scanning a QR code attached to the product, customers can easily access the information on the product.
Notably, the company will continue to work with JBS to explore pathways for direct-purchase from Uruguay, Argentina, and other countries.
Stock Rating
Overall, the Street has a bullish outlook on the stock, with a Strong Buy consensus rating based on 12 Buys and 1 Hold. The JD.com price target of $108.92 implies upside potential of about 58.7% from current levels.
Increased Hedge Fund Trading
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in JD.com is currently Very Positive, as the cumulative change in holdings across all 17 hedge funds that were active in the last quarter saw an increase of 15.2 million shares.
Related News:
Teva Partners with Tikun Olam-Cannbit to Sell Medical Cannabis Products – Report
Pfizer’s PAXLOVID Gets Emergency Use Approval in South Korea – Report
Curaleaf to Acquire Natural Remedy Patient Center for $13M
