《大行報告》野村下調京東(09618.HK)目標價至365元 評級「買入」
野村發表研究報告,引述京東(09618.HK)管理層近日透露,由於首季社區團購業務投資回報率令人滿意,因此計劃於第二季加大投資拓展該業務。
該行表示,公司對發展社區團購業務的目標變得更為明確清晰,此前市場預期,京東對社區團購的投入將不及同業美團(03690.HK)與拼多多(PDD.US)。
野村估計由於加大投資,京東2021財年來自社區團購的虧損將達到160億元人民幣,較早前預期的100億元人民幣提升,因應營銷開支增加,將2021財年每股盈利預測削減14%。野村預期京東次季收入將按年增長24%,維持「買入」評級,目標價由378元下調至365元。
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