Morgan Stanley: Maintains JD-SW (09618) "outperform" rating, raises target price to 230 Hong Kong dollars.

Macquarie released a research report stating that it maintains a "outperform" rating on JD-SW (09618) and has raised its H-share target price from 225 Hong Kong dollars to 230 Hong Kong dollars. The bank believes that JD's performance in the fourth quarter was stable with the support of its trade-in plan, which also boosted other product categories. It is expected that the trade-in support will continue in the first half of this year, and delivery services will increase user engagement.