Tiger Brokers

CICC Raises JD-SW's 2025 Adjusted Net Profit Forecast by 1.8% to RMB 27.5 Billion, Maintains "Outperform" Rating

Stock News
13 hours ago

According to a research report, CICC forecasts that JD-SW (09618, JD.US) will achieve third-quarter revenue growth of 14% year-over-year to RMB 297.1 billion, exceeding the firm's previous expectations, with a corresponding non-GAAP net margin of 1.5%. CICC raised its 2025 adjusted net profit forecast for JD.com by 1.8% to RMB 27.5 billion, while maintaining its 2026 earnings forecast at RMB 38.4 billion. The firm maintains an "Outperform" investment rating and a target price of $41, corresponding to 11x adjusted P/E ratio for 2026 and 28.7% upside potential. The current stock price reflects 12x/8x adjusted P/E ratios for 2025/2026. CICC expects that JD.com's third-quarter daily necessities category will continue to maintain relatively rapid growth, with stable retail business profit margins and better-than-expected delivery services potentially driving third-quarter net profit above previous expectations.

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