《大行報告》美銀證券下調京東(09618.HK)目標價至382元 評級「買入」
美銀證券發表報告指,將京東(09618.HK)目標價由402元下調至382元,以反映宏觀消費放緩對其電子商務業務增長的影響,以及其上市子公司和所投資公司的市值下降。另一方面,由於預料宏觀環境將改善,相信京東的收入增長在今年下半年有所反彈,同時利潤率也會按年增加,因此維持「買入」評級。
報告指,由於近期消費數據疲軟,將京東2021年至2023收入預測分別降低1%、3%及7%,每股盈利預測就降低5%至6%。
另該行提到,服裝是較弱的零售銷售類別之一,由於京東在服裝和相關產品方面的風險低於其主要同行,而這些產品不在其前三大品類,因此預計最近的宏觀經濟放緩對其影響較小,料去年第四季的收入按年增長22%,高於行業平均水平。
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