大行評級|大和:上調京東物流目標價至12港元 確認“買入”評級
大和發表報吿,上調對京東物流今年至2026年每股盈測介乎11%至14%,基於公司首季盈利能力勝預期,並確認“買入”投資評級,維持對公司今年潛在盈利轉勢預測的正面看法,目標價由9.5港元上調至12港元,相當於預測今明兩年合併市盈率18倍。
該行指,管理層未改變全年收入按年高單位數上升,以及經調整淨利潤率按年低單位數上升業績指引,並重申有信心達標。管理層亦預期第二季收入及盈利增長將勝於全年指引。
該行認為,縱使公司首季業績勝預期,管理層取態仍然保守,以等待更佳的業務能見度後才更新全年業績指引,或於第二季業績公佈時宣佈,成為潛在股價催化劑。該行亦指,除公司業務指引,亦見到公司從整合德邦物流、強化速遞及貨運服務,以及家電更新與跨境物流的潛在需求增加。
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