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<Research>DBS Elevates JD LOGISTICS (02618.HK) TP to $18 as BABA-W Tie-up Boosts Growth
Recommend 14 Positive 33 Negative 13 |
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DBS Group Research issued a research report expecting the express delivery industry to record double-digit sales volume growth in FY2025, with JD LOGISTICS (02618.HK) benefiting from its leadership in delivery quality. The partnership with BABA-W (09988.HK)'s Taobao and Tmall will help drive solid revenue growth of 8% per annum over the next 2 years, and support profitability expansion through enhanced scale effect, the broker added. DBS Group Research expected JD LOGISTICS to post 130% YoY earnings growth in FY2024, followed by 10-15% annual growth in the next 2 years due to revenue and gross profit expansion, and maintained its 2024-2026 non-GAAP net profit margin forecasts at 3.5%/ 3.7%/3.8%, respectively. The broker elevated its target price from $12 to $18, with rating kept at Buy. AAStocks Financial News |
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