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<Research>Macquarie Lifts JD LOGISTICS (02618.HK) TP to $22.2, Expects 3Q Results to Beat Forecasts
Recommend 24 Positive 31 Negative 4 |
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Macquarie released a research report expecting JD LOGISTICS (02618.HK)'s 3Q24 results to beat expectations as cost optimization will be able to bring earnings upside. Meanwhile, the cooperation with BABA-W (09988.HK)'s Taobao and Tmall may bring business growth opportunities beyond 2024. Therefore, Macquarie reiterated that JD LOGISTICS is its top pick in the logistics industry, and lifted its target price by 12% to $22.2 from $19.8, with rating reiterated at Outperform. Macquarie had a positive view on JD LOGISTICS, and expected 3Q24 adjusted earnings to be RMB1.3 billion, 64% higher than the market consensus, while revenue is expected to grow by 7% YoY to RMB44.5 billion, according to the report. Although growth may slow slightly QoQ, Macquarie believed that the market has largely reflected the relatively weak seasonality and overall consumption sentiment. Macquarie raised its 2024/ 2025 adjusted EPS forecasts for JD LOGISTICS by 23%/ 12% respectively, reflecting the Company's accelerated improvement in operational efficiency and earnings expansion. AAStocks Financial News |
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