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.
里昂證券將京東物流(02618.HK)目標價從27.4美元下調至21.2美元，並重申買入評級。
京東物流公佈，2012年第一季度銷售額同比增長22%，淨虧損縮水至13.5億元，與預期一致。在每客户平均收入(ARPC)穩步增長的推動下，該公司的外部綜合供應鏈部門同比增長25%。
流行的Covid疫情可能會影響公司的履行能力，支撐22年第二季度的成本，但也提供了新的機會，因為客户更多地意識到綜合物流的重要性。里昂證券將京東物流的全年營收預期下調了6%，以顯示Covid的影響。
