《大行報告》瑞信下調京東(09618.HK)目標價至398元 評級「跑贏大市」
瑞信下調京東(09618.HK)目標價,由420元降至398元,評級「跑贏大市」,今明兩年的每股盈利預測分別下調10%和7%,反映收入增長較慢及一次性開支較高,但繼續是該行在電子商務領域的首選。
瑞信預計,京東第一季收入按年增長17%,達到2,377億元人民幣,較原本預測的20%低,因為3月下旬的封城措施影響執行情況。非通用會計準則(Non-GAAP)的營業利潤可能會按年下降90個百分點,以反映春節晚會贊助、防疫措施導致的執行費用增加,以及與京喜拼拼有關的一次性遣散費。
該行指,京東一直積極與政府溝通,以獲得營運批准並優先向上海交付,目前已在逐步改善。一旦更多的倉庫恢復營運,運力將迅速回升,消化未完成的訂單。由於4月份情況比3月份惡化,預計第二季增長將進一步放緩。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.