Research Disclosures & Disclaimers

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JD.com (JD.O)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (US$)	Price Target (US$)	Rating
2022-02-18	71.86	100.00	Buy
2022-03-10	52.52	90.00	Buy
2022-04-12	56.48	88.00	Buy
2022-05-17	53.67	80.00	Buy
2022-10-11	46.27	75.00	Buy
2022-11-20	56.07	70.00	Buy
2023-01-09	63.13	80.00	Buy
2023-03-10	40.47	60.00	Buy
2023-04-13	37.45	43.00	Neutral
2023-07-17	37.78	44.00	Neutral
2023-08-16	34.88	40.00	Neutral
2023-11-01	25.33	39.00	Buy
2024-01-24	23.60	36.00	Buy
2024-03-06	24.91	37.00	Buy
2024-05-16	34.27	40.00	Buy
2024-08-15	27.00	43.00	Buy
2024-10-11	43.83	64.00	Buy
2025-03-06	43.92	67.00	Buy
2025-05-13	37.25	58.00	Buy

Disclosures

UBS has acted as manager/co-manager in the underwriting or placement of securities of this company/entity or one of its affiliates within the past 12 months.
UBS is acting as Financial Adviser and Overall Coordinator to JINGDONG Property, Inc. in its proposed listing on the Main Board of the Stock Exchange of Hong Kong.
UBS is acting as financial advisor to JD.com Inc on the take private / acquisition of all outstanding shares of Dada Nexus Ltd (NASDAQ: DADA)
Within the past 12 months, UBS has received compensation for investment banking services from this company/entity or one of its affiliates.
UBS expects to receive or intend to seek compensation for investment banking services from this company/entity within the next three months.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.
UBS Securities Hong Kong Limited is a market maker in the Hong Kong-listed securities of this company.
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.