《大行報告》富瑞下調京東(09618.HK)目標價至448元 評級「買入」
富瑞發表報告表示,將京東集團(09618.HK)目標價由466港元下調至448港元,此按綜合方式作伎值,維持「買入」評級。該行亦將京東(JD.US)目標價由120美元降至115美元,維持「買入」評級。
該行指,京東首季業績收入符合預期,非公認會計準則盈利超過預期,並認為在技術優勢的支持下,京東藉強大的供應鏈能力可令其有別於同行。
由於疫情爆發、消費者情緒和去年6月高基數等因素,富瑞目前估計京東今年第二季總收入將按年增長低單位數。對於新業務,該行預計京東將專注於效率,並在支出方面較審慎,估計有關虧損將繼續逐年縮小。至於非公認會計準則淨毛利率預計將與去年同期相似。
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