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Renowned investor Michael Burry, of ‘The Big Short’ fame, has steadily been increasing his exposure to Chinese markets — starting with Q4 of 2023, and extending to Q1 and Q2 of 2024, per the 13F filings he has submitted to the SEC through his firm, Scion Asset Management. Michael Burry’s Q3 2024 13F filing. Source: SEC According to the latest filings, Chinese stocks account for 45% of Burry’s portfolio — and one of the standout successes among his holdings is B2C e-commerce giant JD.com (NASDAQ: JD).  At press time, JD stock price is $39.79 — having rallied by 46.27% over the course of 2024. JD stock price YTD chart. Source: Finbold However, JD share price has dropped by 5.53% over the last week — and economic uncertainty abounds regarding Chinese markets.  In the midst of all of this, two major investment firms are unequivocally bullish. Barclays and JPMorgan (NYSE: JPM) see a lot more room to grow — and increased their price targets by 25%. Barclays and JPMorgan set ambitious JD stock price target On October 16, Barclays equity researcher Gregory Zhao reiterated an ‘Overweight’ rating — and increased his price target from $40 to $50.  Although the stimulus measures left investors disappointed in terms of equity markets, Zhao expects that the policy shift will have a positive impact on the business going forward.  In a note, he expressed that he expects year-over-year (YoY) growth to return to single digits, and forecasts that the next earnings report will show demand picking up in September due to a surge in appliance sales. Similar sentiments were echoed by Andre Chang of JPMorgan. The two investment firms are of one mind on JD — Chang also raised his price forecast for JD from $40 to $50 while reaffirming an ‘Overweight’ rating.  This is…

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Filed under: News - @ October 17, 2024 10:28 am