《大行報告》花旗微升京東(JD.US)目標價至43美元 提高股東回報
花旗發表報告,上調對京東(JD.US)目標價,由42美元上調至43美元,維持「買入」評級,基於對其估值要求不高、股東回報改善及京東零售增長前景有初步扭轉跡象。
該行指,縱使去年具挑戰性,但受惠第一方賣家銷售更強勁增長及經營槓桿,公司去年第四季收入按年升3.6%至3,060億元人民幣,高於該行及市場預測逾2%;非美國通用會計準則純利升9.9%至84億元人民幣,高於該行及市場預測40%及16%。
報告稱,公司對京東零售今年增長跑贏中國零售市場仍具信心,基於產品競爭力、用戶購買體驗及用戶購買頻率增加,以及用戶與商戶增長加速。管理層亦計劃把超額盈利再投資以推動更快收入增長及強化市場地位,若能成功執行,加上宏觀反彈順風與家居產品替換需求周期,業績預測見上望空間。
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