Bank of America Securities: Reiterates "Buy" rating on JD Group-SW with a target price of HKD 149

Bank of America Securities released a research report stating that it reaffirms the "Buy" rating for JD Group-SW, with a target price of HKD 149 for H shares, corresponding to an unchanged adjusted forecast price-to-earnings ratio of about 11 times for 2026. The bank maintains its adjusted net profit forecasts for 2026 to 2028 at RMB 32 billion, 41 billion, and 48 billion, respectively. The report states that JD's second-quarter performance slightly exceeded market expectations, and its profitability generally aligns with investors' upgraded forecasts. The group has recorded considerable earnings surprises multiple times in the past, and coupled with the second-quarter performance of the takeaway industry, the market's original expectations for a strong quarterly performance will translate into higher full-year profit guidance

According to the Zhitong Finance APP, Bank of America Securities has released a research report reiterating its "Buy" rating for JD Group-SW (09618), with a target price of HKD 149 for H shares, corresponding to an unchanged adjusted forecast price-to-earnings ratio of about 11 times for 2026. The bank maintains its adjusted net profit forecasts for 2026 to 2028 at RMB 32 billion, RMB 41 billion, and RMB 48 billion.

The report states that JD's second-quarter performance slightly exceeded market expectations, and its profitability generally aligns with investors' upgraded forecasts. The group has recorded considerable earnings surprises multiple times in the past, and coupled with the second-quarter performance of the takeaway industry, the market's originally strong expectations for the quarter will translate into higher full-year profit guidance