Canaccord: lower Tesla, Inc. 's target price to US $812 and maintain his "buy" rating

Affected by inflation and short-term uncertainty of US macro policy, Canaccord will$Tesla, Inc. (TSLA.US) $The target share price was lowered to $812 from $974 and maintained a "buy" rating. In addition, Tesla, Inc. cancelled the Model S Plaid Plus version, which will reportedly be the first model designed with a new 4680 battery. Jed Dorsheimer, an analyst at the bank, said this means that the new battery unit specification is not ready for production and that capacity restrictions on household energy storage batteries such as the Powerwall still exist.

As of press time, Tesla, Inc. fell 1.64% to US $607.557.

Many big banks are optimistic about JD Logistics, Inc..

Macquarie: first given to JD Logistics, Inc."outperform the market" rating with a target price of HK $52.2

Macquarie finger$JD Logistics, Inc. (02618.HK) $Is catching up with the rising demand for integrated supply chain services. This is a highly fragmented and yet to be integrated market with a size of up to HK $2 trillion. The strong business flow from JD.com Retail should help to become the pillar of JD Logistics, Inc. 's core competitiveness in terms of consumer insight and industry knowledge, while the accumulation of external customers and the expansion of service categories can pave the way for JD Logistics, Inc. to expand market share.

As a result, Macquarie expects JD Logistics, Inc. to continue to be the world's fastest-growing logistics company, with an estimated compound annual growth rate of 27 per cent in revenue and 32 per cent in third-party business between 2021 and 2025. compared with the annual compound income growth rate of 3 to 5 per cent of its global counterparts, the rate is much faster.

The bank pointed out that JD Logistics, Inc. is still in the capital expenditure expansion cycle, and it is believed that the company will give priority to the increase in market share rather than profitability in the coming quarters. Although earnings may still fluctuate in the short term, sustained growth may be reflected in operating leverage at a later stage. The bank estimates that JD Logistics, Inc. will break even by 2022, with adjusted profit margins of 4 per cent in 2025, when its market share in the integrated supply chain market will double.

Anxin Securities: first give JD Logistics, Inc. "overweight" ratingTarget price of HK $51.3

Anxin Securities released a research report saying that taking into account the broad industry space in the integrated supply chain market and JD Logistics, Inc. 's long-term competitiveness in this field, he is optimistic about the company's long-term development space, and is still in the short-term stage of resource investment and market expansion. Profits will be under pressure, but in the medium to long term, with the gradual embodiment of scale effects, profitability is expected to improve significantly. Reference to comparable companies, taking into account its growth (revenue growth is higher than peer), platform resources (business flow advantage) and other factors, to 2.5xPS, according to the 2021 revenue of 103 billion yuan corresponding to the short-term target market value of 257.5 billion yuan, the first to "increase" rating.

According to the report, the integrated supply chain industry has the characteristics of extensive demand and scattered competition. Integrated supply chain developed from the traditional supply chain, mainly provided by third-party logistics enterprises, with the implementation of integrated solutions as the basic characteristics. Because it can provide a package of logistics solutions, provide value-added services, and help enterprises reduce costs and increase efficiency, it has gradually become the mainstream mode of logistics outsourcing, with high demand in automotive, fast consumer goods, clothing, 3C electronics and other industries. There is still much room for improvement in the future. The industry concentration of the integrated supply chain is low, mainly due to the great difference of customer attributes and high customer stickiness. At the same time, the customized demand limits the leading expansion speed, and the scale effect is not obvious.

The bank said that JD Logistics, Inc. 's warehouse allocation service is the basis of the integrated supply chain, JD.com business flow is the source of business, active and rapid external expansion. In 2020, more than 70% of JD Logistics, Inc. 's integrated supply chain income came from JD.com 's own (internal customers). The bank believes that it is mainly related to the development history of JD Logistics, Inc.. JD.com Mall mainly sells 3C electronics, home appliances and other standardized goods with high demand for integrated supply chain. External income accounts for about 30%, but the growth rate continues to be higher than internal. The number of external customers has reached 53000, and the income of a single customer is about 313000 yuan, of which customers who contribute more than 1 million yuan account for about 4%. The bank believes that there is still much room for improvement in the number of customers and individual customer contribution income in the future.

CICC: first awarded JD Logistics, Inc. 's "outperform industry" rating, with a target price of HK $56.56

CICC first gave JD Logistics, Inc. an "outperform" rating, with a target price of HK $56.56, equivalent to 3 times 2021 and 39 times 2025 earnings. The bank said it expected one-stop supply chain logistics to flourish, driven by demand for consumer upgrading. The Group continues to invest in research and development, which can quickly respond to customer needs and effectively complete orders.

The report also said that after the group opened its services to external customers, external income grew at a compound annual rate of 74% over the past three years, but there is still a lot of room for improvement in warehousing utilization, transport loading rate and per capita efficiency. The bank estimates that the group's non-general criteria for 2022-25 earnings per share are 0.09yuan, 0.39yuan, 0.70 yuan and 1.23 yuan, respectively.

JD Logistics, Inc. closed down 1.75% at HK $42 today.

Northland: reiterate AMD's "outperform" rating, with a target price of $116,

Gus Richard, an analyst at Northland, an investment bank, released a research report reiterating$Advanced Micro Devices Inc (AMD.US) $The "outperform" rating, with a target price of $116, means there is 42% room to rise from the current share price. Analysts believe that AMD's share of the corporate notebook market will grow significantly this year.

Richard's analysis shows that AMD's "market share growth momentum" shows no sign of slowing down. Analysts expect the company to remain in the lead.

"We expect growth in corporate notebook revenue to drive customer revenue growth in the second half of the year," analysts said. AMD's server market share accelerated in the first quarter, and AMD released its 7nm server chip in the first quarter, which is expected to accelerate its market share growth in the second half of the year. We believe that AMD is getting sufficient capacity from Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) and that there is unlikely to be a component shortage in AMD's high-end systems. "

AMD's share of the corporate notebook market is growing. This sector has always been Intel Corp's turf, but in 2019, Intel Corp's 14nm capacity encountered bottlenecks, opening the door to this lucrative market for AMD.

Richard estimates that AMD's share of the corporate laptop market is currently "in the low single digits", but expects "significant expansion this year".

Analysts at small investment banks are still using Windows 7, according to Richard's industry survey, which means corporate laptops are "still out of stock". As a result, while the personal laptop market is expected to slow, analysts believe the enterprise market will bring AMD "good visibility in the second half of 2021".

AMD's shares have fallen more than 11% since the start of the year. Still, the company continues to do well in the real world. With this in mind, Richard believes that investors can buy the stock at a low price.

Most Wall Street analysts believe AMD's share price is undervalued. The stock has a consensus rating of "moderate buy" and an average target price of $105.06, meaning there is room for a 29 per cent rise from the current share price.

As of press time, AMD fell 0.63% to $81.04.

Soochow Securities: covers BYD Electronic "Buy" rating for the first time, with a target price of HK $65.4

Soochow Securities believes that$BYD Electronic (00285.HK) $Is the platform precision manufacturing leader, its strong ability to capture new demand, introduce new customers, enjoy the rapid growth of the industry long-term dividend, of which e-cigarette is the most important growth engine, with the company's accumulation in materials, technology, equipment, is expected to occupy a certain market share, long-term 4-5 years income space of 10 billion, enhance the profit margin level.

In other business, the company's drones have become the main supply of Xinjiang, smart home into XIAOMI ecological chain; automobile intelligent system benefit from the improvement of electronic rate, at the same time gradually introduced into the brand factory; medical business return to normal, long-term attention to the progress of new products.

In view of the strong certainty of the company's long-term revenue and profit growth and its important position in the e-cigarette track, Soochow Securities covered BYD's "buy" rating for the first time, with a target price of HK $65.4.

BYD Electronic closed up 1.83% at HK $50.15 today.