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大行評級|摩根大通:維持京東物流“增持”評級 看好其穩健增長

摩根大通發表報告指,京東物流在過去三個月表現優於大市以及其他大多數中國物流服務供應商股價,顯示其在競爭激烈的市場中,擁有重資產、定位高端的物流企業展現出的強大韌性。該行指出,中國國家郵政局近期強調物流行業的“反內卷”政策,這與京東物流專注高端產品和多元化業務結構的策略一致,若政策得以落實,或有助緩解整個物流行業的估值壓力,對京東物流有利。

摩通表示,預計京東物流今年次季收入增長12%至13%,達到474億元,淨利潤增長5%,達到25.6億元;2025年全年指引穩定,預計收入實現雙位數按年增長。鑑於有關戰略措施和有利的市場條件,摩通維持對京東物流的“增持”評級,相信其能充分利用監管變化機會,並擴展其高端物流和食品配送業務。

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