JD.com, Alibaba Seen Cruising In China E-Commerce With Amazon Out

JD.com (JD) and Alibaba Group (BABA) have a clear road ahead in dominating China's e-commerce market with Amazon.com (AMZN) continuing to be shut out, one analyst says.

Scott Devitt, a Stifel analyst, resumed coverage on JD.com with a buy rating and price target of 48 on U.S.-listed shares. JD.com climbed 4.5% to 40.30 on the stock market today.

"Third-party estimates call for e-commerce sales in China to surpass $1 trillion in 2019 — a 16% compound annual growth rate," Devitt said in a...

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