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法巴:京東(JD.US)重申為中國電商行業首選 評級“買入”

法巴發研報指,考慮到疫情影響及國家統計局最新實體商品電子商務銷售額數據後,將京東-SW(9618.HK)今年全年收入增長預測由17%降至12%,維持外部年增長率及營銷開支對銷售額比率預測不變,繼續列京東為中國電商平台的首選,其次為阿里巴巴(9988.HK)及拼多多(PDD.US)。法巴解釋,下調收入增長預測主要是由於市場普遍預期,預期今年商家會將經營重心放在盈利能力而非增長層面上。

該行預計,疫苗接種率上升、加上各地政府推出消費券、寬鬆房屋政策及近期的減税政策等鼓勵措施,預期京東的交易量將第二季觸底,給予京東美股“買入”評級,認為美股合理值105美元。

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