Glonghui, May 20 | Macquarie released a report stating that JD Logistics's first-quarter results exceeded expectations, mainly due to improvements in internal supply chain revenue, and partly due to sales recovery in JD's retail business and lower transportation thresholds. The bank anticipates that JD Logistics's revenue structure will improve and internal supply chain revenue growth will accelerate. The bank is more optimistic about the company's profit prospects and raised its profit forecast. It is expected that the adjusted net profit margin will reach 2.4% this year, which is at the upper end of the company's guidance. The bank raised JD Logistics's net profit forecast for this year and next by 16% respectively to reflect strong profit prospects. The bank raised its target price from HK$8.3 to HK$9.6, maintaining a “neutral” rating.
大行评级｜麦格理：上调京东物流目标价至9.6港元 维持“中性”评级
Major Bank Rating | Macquarie: Raising the target price of JD Logistics to HK$9.6 to maintain a “neutral” rating
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