Bank of America Securities: Reiterates JD Group-SW (09618) “Buy” Rating Target Price of HK$149

The Zhitong Finance App learned that Bank of America Securities released a research report stating that it reaffirmed the JD Group-SW (09618) “buy” rating. The target price for H shares is HK$149, corresponding to the adjusted forecast price-earnings ratio unchanged by about 11 times in 2026. The bank maintained adjusted net profit forecasts for 2026 to 2028 at 32 billion, 41 billion and 48 billion yuan.

According to the report, JD's second-quarter results were slightly higher than market expectations, and profitability was generally in line with investors' improved predictions. The Group has recorded impressive profit surprises many times in the past. Coupled with the takeaway industry's second-quarter performance, the market originally expected that strong quarterly performance would translate into higher profit guidance for the whole year.