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Express News | JD.com Inc : Barclays Cuts Target Price to $40 From $41
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Brokerage focus: Guosen Securities maintains a rating of JD.com (09618) higher than the market and expects its Q2 gross margin to drive a 16% year-on-year increase in net income after adjustment.
Guosen Securities issued a research report stating that jd.com (09618) will release its Q2 2024 financial report soon. The bank expects its revenue to increase by 1% year-on-year and its Non-GAAP net margin to increase by 0.5 percentage points year-on-year. On the revenue side, the bank predicts that jd.com will achieve revenue of 290.9 billion yuan in Q2, a year-on-year increase of 1%. The bank expects the growth rate of jd.com's retail income to be +1%, with a two-year CAGR of 4% (consistent with Q1), with negative growth in the electrical category and a rebound in the supermarket category, with an expected increase in the high single-digit range and a faster growth rate in the POP model than the large-cap market. Currently, the company is not strongly pursuing revenue growth, focusing on the prosperity of the ecosystem. Jd.com.