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<Research>CMBI Expects JD.com (JD.US) to Post Solid 4Q24 Results, Boosted by Home Appliances Trade-in Program
Recommend 6 Positive 13 Negative 3 |
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CMBI released a research report expecting the trade-in program for home appliances to drive JD.com (JD.US)'s solid results. 4Q24 revenue is expected to grow by 9.3% YoY to RMB334.6 billion, which is 3% higher than the market consensus, benefiting from the implementation of the trade-in program for home appliances across China, JD.com's higher-than-industry-average share of home appliance category GMV, as well as strong supply chain capabilities of JD.com's self-owned business. In the short term, JD.com is estimated to benefit more from the trade-in program than its peers, but, in the long term, high-quality and sustainable earnings growth in its core business and improved shareholder returns will remain key to the incline of its share price, CMBI added. Therefore, the broker kept rating at Buy, with a target price of US$53.2. AAStocks Financial News |
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