＜Research＞Nomura Cuts TP of JD-SW (09618.HK) to $150, Rates Buy

　　Nomura issued a report on JD-SW (09618.HK) +5.600 (+5.243%) Short selling $93.91M; Ratio 14.299% , lowering its target price from $165 to $150 and rating it Buy.

　　The broker estimated JD's 2Q24 revenue to be modest, while earnings would be strong. JD Retail's revenue for the quarter is expected to be roughly flat at RMB254 billion, below the consensus projection of 7% growth. This was mainly due to weaker sales of electrical appliances, which are estimated to fall 5% YoY amid a decline in air-conditioning sales and a high base in the same period last year. Sales in the general merchandising category are forecasted to grow 9% YoY, mainly supported by the supermarket business.

　　Related NewsDaiwa Cuts JD-SW (09618.HK) 2Q24 Income Growth Forecast to 1%, But Raises 2024-26 EPS by 8-10%

　　The bank predicted JD's overall revenue in 2Q24 to be RMB290 billion, up 1% YoY and 5% below market expectations.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 12:25.)

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