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<Research>Macquarie Elevates JD-SW's TP to $225; Trade-in Policy Shores up Last Qtr's Robust Performance
Recommend 8 Positive 21 Negative 3 |
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Macquarie wrote in its research report that it noted Chinese consumers' embrace of the trade-in program and JD-SW (09618.HK)'s even stronger promotional activities. The broker expected JD Retail's 4QFY24 revenue to grow by 11% YoY, profit margins to steadily improve YoY, and adjusted operating profit margin to climb by 50 bps YoY to 3.1%. Macquarie raised its FY24-25 earnings forecasts for JD-SW by 4% and 3%. It also lifted its target price for JD.com (JD.US) from US$57 to US$59 and for the H-shares from $217 to $225, both rated as Outperform. AAStocks Financial News |
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