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<Research>CMSI Elevates JD-SW (09618.HK) TP to $194, Expects Trade-in Policy to Boost Rev. Growth in 3Q
Recommend 8 Positive 14 Negative 2 |
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CMSI released a research report expecting JD.com, Inc. (JD.US) (09618.HK)'s 3Q24 revenue to rise by 4.9% YoY to RMB260 billion, accelerating from the 1.2% growth in 2Q24, mainly benefiting from better GMV growth and the trade-in policy. CMSI anticipated the Group's FY2024 revenue to increase by 4.5% YoY, where the revenue of JD Retail/ JD LOGISTICS (02618.HK) will grow by 5.1%/ 9.5% YoY each. The broker also projected the Group's 2024 non-GAAP net profit to incline by 20% YoY. The Company is a major beneficiary of the fiscal stimulus measures, with a positive long-term earnings growth outlook, CMSI added. Therefore, the broker elevated its target prices on JD.com's US stock/ H-shares from US$42/ $165 to US$50/ $194, with rating kept at Buy. AAStocks Financial News |
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