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<Research>Macquarie Upgrades JD HEALTH to Outperform, Raises TP to HKD62.14
Recommend 16 Positive 45 Negative 18 |
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According to a Macquarie research report, JD HEALTH (06618.HK) reported a 25% YoY increase in total revenue to RMB35.3 billion, with adjusted operating profit rising by 57%, beating the broker's and the market's expectations by 8% and 11%, respectively. The broker believes that JD HEALTH has reached a turning point in its development, leveraging its clear "pharmaceutical and health" closed-loop ecosystem strategy and channel expansion layout. The company's core supply chain competitiveness is also expected to translate into stronger pricing power, further driving profit margin expansion. Meanwhile, JD HEALTH's parent company JD-SW (09618.HK) is committed to promoting its food delivery business, which will bring user traffic growth to JD HEALTH. Macquarie expects savings in sales and promotion expenses to persist into 2H25. Macquarie sharply raised its target price for JD HEALTH from HKD26.18 to HKD62.14 and upgraded its rating to Outperform. AAStocks Financial News |
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