U.S.-listed shares of JD.com were falling Friday as Wall Street firms dialed back their revenue estimates for the e-commerce giant amid the struggling Chinese economy. Ahead of that, Citi analysts lowered their third- and fourth-quarter revenue estimates in a report, citing competition, less consumption from consumers, and a restructuring adjustment. Citi maintained its Buy rating on JD.com but slashed the price target to $43 from $64.
