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<Research>JPM: JD LOGISTICS (02618.HK) Still has Ample Headroom for Growth; Rating Overweight
Recommend 4 Positive 20 Negative 3 |
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JPMorgan issued a research report keeping rating/ target price at Overweight/ $20 for JD LOGISTICS (02618.HK). The Company benefited from business model adjustments and operating leverage gains amid fierce competition across e-commerce platforms and express parcel delivery platform providers, demonstrating improved fundamentals and profit expansion since its May 2021 IPO, JPMorgan said. The broker forecasted JD LOGISTICS' 3Q24 revenue to grow 6% YoY to RMB44 billion, and estimated the Company's 3Q24 net profit to reach RMB1.1 billion, equivalent to a 30% YoY incline, implying a net profit margin of 2.5%, up 0.5 ppts YoY. AAStocks Financial News |
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