BOC International: Upgrading the JD Group-SW (09618) target price to HK$217 to maintain a “buy” rating

Zhitongcaijing · 10/16 03:57

The Zhitong Finance App learned that BOC International published a report saying that the bank raised the JD Group-SW (09618) Hong Kong stock target price by 36%, from HK$159 to HK$217, based on an overall price-earnings ratio of 13 times in 2025, maintaining a “buy” rating.

According to the report, JD Group's revenue and adjusted net profit are expected to increase 4.6% and 21.8% year on year in 2024, and 5.8% year on year in 2025. Driven by the September trade-in policy, the bank expects the JD Group's growth rate to increase significantly in September, while advertising will accelerate growth driven by product transaction value (GMV). Furthermore, the bank believes that the launch of Double Eleven may increase the JD Group's proprietary revenue in the fourth quarter by mid-single digits.