JD.com shares hit record low, banks cut Q3 growth target on retail slowdown

The logo of JD.com is seen at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File photo Acquire Licensing Rights BEIJING, Oct 13 (Reuters) – Shares in Chinese e-commerce giant JD.com (9618.HK) fell as much as 13% to a record low on Friday after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending. The brokerages and banks including Citi, Daiwa and Jefferies, which issued notes to clients on Thursday and Friday with the revised estimates. JD.com, which is listed in…