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02400 XD INC
RTNominal down59.200 -3.000 (-4.823%)
Research Report

22/02/2021 15:25

{I-bank focus}JP Morgan lifts XD Inc. (02400) to HK$42

[ET Net News Agency, 22 February 2021] J.P. Morgan lifted its target price for XD Inc.
(02400) to HK$42 from HK$38 as it rolled forward the valuation base to 2022 but downgraded
its rating to "underweight" from "neutral".
The research house believes XD's 102% share price rally year-to-date is due mainly to
investors' rosy expectations on Taptap to become a major game channel in China. JPM
believes such expectations are already (more than) factored into the current valuation.
It noted that XD is trading at 48x 2022 P/E, much higher than Tencent's (00700) 32x, and
NetEase's (09999) 25x. (KL)

Remark: Real time quote last updated: 06/05/2021 17:59
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