JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% (JD.US) 's 1Q24 results beat the market's expectation, with earnings growing 17.2% YoY, over 20% higher than the market consensus, driven by a growth resumption in China's FMCG sector and accelerated growth in logistic service revenue during the period, BOCI issued a research report saying.
Preliminary sales data for April shows that, although the industry outlook remains difficult, JD-SW is expected to maintain steady growth in 2Q24, while "618" sales will influence the market sentiment, BOCI added.
Therefore, BOCI reiterated rating at Buy, and raised its target price for JD-SW's US stock to US$41.9 from US$39.9.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
