CLSA Lowers JD LOGISTICS (02618.HK) TP to $21.2, Rating Buy
CLSA Lowers JD LOGISTICS (02618.HK) TP to $21.2, Rating Buy
CLSA lowered JD LOGISTICS (02618.HK)'s price target from $27.4 to $21.2 and reaffirmed its Buy rating.
JD LOGISTICS posted a 1Q22 sales growth of 22% YoY, with net loss contracting to RMB1.35 billion, consistent with forecasts. The company's external integrated supply chain unit burgeoned by 25% YoY, driven by solid growth in average revenue per customer (ARPC).
The prevailing Covid pandemic could affect the firm's fulfilment capability and shore up 2Q22 costs, but also present new opportunities given higher client awareness of the importance of integrated logistics. CLSA trimmed JD LOGISTICS' full-year revenue estimate by 6% to indicate the Covid impact.
里昂证券将京东物流(02618.HK)目标价从27.4美元下调至21.2美元，并重申买入评级。
京东物流公布，2012年第一季度销售额同比增长22%，净亏损缩水至13.5亿元，与预期一致。在每客户平均收入(ARPC)稳步增长的推动下，该公司的外部综合供应链部门同比增长25%。
流行的Covid疫情可能会影响公司的履行能力，支撑22年第二季度的成本，但也提供了新的机会，因为客户更多地意识到综合物流的重要性。里昂证券将京东物流的全年营收预期下调了6%，以显示Covid的影响。
