Goldman Sachs raised its target price for JD.com Inc. (09618) to HK$346 from HK$329 and maintained its "buy" rating.
JD is targeting to report 3Q results in mid-November, after the Singles' Day sales festival, where the research house expects another solid quarter and continued commitment on annual margin expansion.
Goldman forecast 27% top-line growth, supported by JD's healthy user engagement and with ongoing product mix shift towards the supermarket category (with higher purchase frequency than electronics), despite decelerated e-commerce industry GMV growth (growth of online retail sales of goods was 17% in 3Q versus 21% in 2Q). It forecast 26%/34% net products/net services revenue growth, respectively.
etnet榮獲HKEX Awards 2023 「最佳表現證券數據供應商」大獎► 了解詳情
