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《大行報告》瑞信下調京東-SW(09618.HK)目標價至305元 評級「跑贏大市」
瑞信發表報告指,預期京東-SW(09618.HK)今年首季業績對辦,收入按年持平於約2,400億元人民幣,而非通用會計準則淨利潤率料按年升66個基點至2.3%,而調整後利潤達56億元人民幣,其中京東零售(JDR)利潤率穩定、以及新業務虧損料收窄。 該行稱,今年是京東的轉型年,重新建立客戶忠誠度,培育第三方生態系統,以及精簡效率欠佳的業務、管線以達至可持續增長。瑞信降公司今年收入增長預測,由原先的11%下調至4.6%,並將公司在2023年至25年每股盈測下調5%至7%,亦將其H股目標價由339元下調至305元,維持其評級為「跑贏大市」。
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