Famed investor Michael Burry turned bearish in Q1 2025, dumping most of his stock positions, including Chinese e-commerce giants like JD.com (NASDAQ: JD), despite Wall Street’s bullish outlook.
In the first three months of the year, Burry slashed his portfolio, increased short bets on China, and took a short position against Nvidia (NASDAQ: NVDA). Burry, who predicted the 2008 financial crisis, also exited Alibaba (NYSE: BABA), Baidu (NASDAQ: BIDU), and PDD Holdings (NASDAQ: PDD), among others.
Regarding JD stock, Wall Street analysts remain optimistic, with 13 experts at TipRanks giving the equity a consensus rating of ‘Strong Buy.’ Of those, 10 rated JD as a ‘Buy,’ three as a ‘Hold,’ and none issued a ‘Sell’ rating.
The average 12-month price target for JD shares is $49.23, suggesting a potential 46.74% upside from its closing price of $33.55. The highest target is $66.00, while the lowest is $35.00.
Burry’s retreat from Chinese technology signals a bearish stance on the sector, likely driven by regulatory concerns, macroeconomic headwinds, or fears of overvaluation following last year’s rally.
Interestingly, his only long position in Q1 2025 was in Estée Lauder (NYSE: EL), where he doubled his stake to 200,000 shares.
Analysts take on JD stock
On May 14, Benchmark analyst Fawne Jiang reaffirmed a ‘Buy’ rating for JD.com, trimming her price target slightly from $58 to $53. Her update followed stronger-than-expected Q1 2025 earnings, driven by a booming trade-in program and solid revenue growth across electronics, general merchandise, and services. The firm also raised guidance for JD Retail, citing the company’s strong financial position.
A day earlier, Citi’s Alicia Yap raised her price target for JD.com to $52, pointing to a 43% year-over-year increase in non-GAAP net profit. She cited JD’s growing customer base and resilient operations as signs of continued strength in the quarters ahead.
Also on May 13, Jefferies analyst Thomas Chong lifted his target to $66 while maintaining a ‘Buy’ recommendation. He noted rising active user numbers and increasing Gross Merchandise Volume as key momentum indicators, highlighting JD’s operational efficiency and strong consumer demand.
In contrast, Morgan Stanley took a more cautious approach, lowering its target to $39 while maintaining an ‘Equal-weight’ rating. The firm expressed concern over the lack of guidance on JD’s food delivery segment. Despite daily order volume nearing 20 million, Morgan Stanley warned that execution risks could limit future upside.
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