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《大行報告》匯豐研究下調京東(09618.HK)目標價至215元 評級維持「買入」
匯豐研究發表報告,預計京東(09618.HK)重組工作和處理未盈利業務和分銷渠道將對收入增長產生較大負面影響。雖然京東在家電領域的市場份額並沒有流失予線下平台,但房地產行業低迷及智能手機需求疲軟等均不利於收入增長。 該行將京東2023至2025年收入預測下調5至8%,料今年收入增長將放緩至2%,明年和2025年為9%至10%。同時繼續預期利潤率會隨著時間而改善,但縮小利潤率上升的幅度,將今明兩年盈利預測削減5%至12%。目標價由273元降至215元,維持「買入」評級。
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