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《大行報告》野村上調京東-SW(09618.HK)目標價至298元 評級「買入」
野村發表研究報告指出,京東-SW(09618.HK)第三季收入按年增長11%符合預期,純利按年升98%超預期,主要受嚴格的成本控制支持。受惠於電子和家電產品表現穩固,京東零售收入按年升7%,高過第二季的按年增長4%。 該行指出,京東的管理層對近期前景謹慎,因內地疫情封鎖措施嚴重打擊消費者信心,將導致較多訂單被取消,因此預期第四季京東零售收入將放緩,或略低於市場預期。不過,管理層對毛利保持正面,料第四季整體經營利潤率按年增長1.2個百分點,相對於早前預期為0.8個百分點。 此外,野村將京東今明兩年財年的收入預測下調1%及2%,但對每股盈利預測各上調8%。維持對其「買入」評級,目標價由275元上調至298元。
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