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<Research>Macquarie Elevates JD-SW's TP to $232, Expects 3Q Adj. NP RMB11.5B to Meet High End of Consensus
Recommend 11 Positive 13 Negative 4 |
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JD-SW (09618.HK) has effectively captured recovering demand in home appliances and electronics from the gradual roll-out of trade-in policy, making its revenue growth in 2H24 more resilient than its peers, Macquarie wrote in its recent report. The broker anticipated JD-SW's 3Q revenue to rise 5% YoY to RMB260 billion and adjusted net profit to reach RMB11.5 billion, aligning with the high end of market expectations. Reiterating JD-SW as its top pick in the e-commerce sector, the broker lifted its 2024-2025 earnings forecast by 2% and 6% to reflect sustainable earnings expansion. In addition, other segments, including JD LOGISTICS (02618.HK), will further contribute to the group's profit growth. The broker raised its TP for JD-SW by 3% to $232 and reiterated the Outperform rating. AAStocks Financial News |
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