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<Research>Citi Expects JD.com (JD.US) 3Q Results to Be Solid, Home Appliance Trade-in Stimulus to Drive Better-than-expected Rev.
Recommend 9 Positive 12 Negative 2 |
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Citi Research issued a research report expecting JD.com, Inc. (JD.US) to initially benefit from the home appliance trade-in stimulus measures, and believing that the improvement in demand for home appliances since September may lead to a higher-than-expected revenue growth in 3Q24. Considering the relatively muted macro environment in July and August, the broker believed that the Group's low spending on sales and marketing may result in higher-than-expected profit growth. Therefore, the Group's 3Q24 results are expected to be solid. Looking ahead to 4Q24, Citi Research said that JD.com has already kicked off its Double 11 promotions, and believed that this year's promotions will be crucial for the platform to acquire traffic and capture the rebound in consumption. Therefore, the broker believed that all e-commerce platforms, including the Group, will step up their promotion activities to enhance consumers' awareness of spending. Citi Research kept its target price at US$52 for the Group, with rating at Buy. AAStocks Financial News |
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