China's largest online retailer, JD.com (JD -3.20%), reported its first-quarter 2020 earnings last week, and investors liked what they saw, sending the stock to new highs. The company reported year-over-year revenue growth of 21% as the company stayed operational, serving consumers throughout the COVID-19 crisis.
On the heels of the strong quarterly report, several analysts have raised price targets for JD, including UBS analyst Jerry Liu, who raised his price target to $67 and wrote, "JD's consistent execution and post COVID-19 traction with consumers give us more conviction in the company's near to medium term revenue growth and margin expansion," according to Benzinga.

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Several other analysts also responded to the earnings results with increased price targets, ranging from $50 to $62 per share. Stifel analyst Scott Devitt, who raised his price target to $50 -- with shares trading above that level -- maintained a neutral rating. Devitt still believes the company will continue to gain market share in China's $1 trillion e-commerce market. He said, "JD will continue to benefit from the accelerated shift in eCommerce adoption and expect a recovery in discretionary categories as conditions normalize," according to the report.
Liu believes that even as consumers emerge from COVID-19 lockdowns, JD will continue increasing sales, and will do so while reigning in expenses, with increasing margins. The company's guidance of second-quarter net revenue growth between 20% and 30% versus last year supports analyst optimism.
Besides retail, JD's segments include health, which provides pharmaceutical and healthcare products and services; logistics, offering home delivery service; and property, consisting of investments managed by a property management group.