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研報掘金|招商證券:上調京東目標價至209港元 對上半年收入維持雙位數增長感樂觀
格隆匯 03-10 10:37

招商證券發表研究報吿指,京東集團第四季收入按年升幅加快至13%達3470億元,高於預期,其中京東零售收入按年升15%。毛利率按年升22%,受惠利潤率按年升1.1個百分點至15.3%,非通用會計準則(non-GAAP)純利按年升34%,高於預期。

該行預料,今年集團收入按年升9.2%,其中京東零售及京東物流收入則分別按年升8.3%及11.3%,並對集團上半年收入維持雙位數增長感樂觀,主要是集團是中國補貼政策延長的主要受益者,提升其強大的供應鏈和消費者對電子品牌產品的認可。

該行預料,集團今年non-GAAP純利按年升8.7%至520億元,將其H股目標價由179港元升至209港元,維持其評級為“買入”。

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