《大行報告》摩通料京東(09618.HK)股價未來3至6個月會受壓
摩通發表報告,京東(09618.HK)過去一星期股價跑贏大市,主要受惠於行業數據、遭騰訊(00700.HK)減持的憂慮逐漸緩解及京東今年增長預期,不過,該行指京東股價雖然重回騰訊宣佈派京東股份作股息前的水平,但部份騰訊股東於3月收到京東股份後或會出售,加上預期今年首季、甚至次季的整體零售放緩所拖累,因此料京東股價未來3至6個月將會受壓。
不過,該行對京東未來6至12個月看法正面,騰訊所帶來的影響僅屬短暫,在主要電商中,其盈利增長可預見性爲最高,更有上調可能,故重申京東「增持」評級,惟將其目標價由390元調低至380元。
該行保守估計,今財年首季收入增長18%,低於市場預期22%,因相信透過央視跨年晚會的用戶增長不足以抵銷短期的宏觀經濟不利因素。(me/k)
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