Goldman Sachs Affirms Buy Rating for JD Health, Sets Price Target at HK$65

Deep News07-21

Investment bank Goldman Sachs has issued a research report, stating that JD HEALTH's (06618) second-quarter revenue growth is anticipated to broadly align with market expectations. While the performance of the 618 shopping festival was relatively subdued, driven by sustained market share gains in its core product categories, the current forecast projects a year-on-year revenue increase of 18% for the second quarter.

Goldman Sachs currently forecasts that JD HEALTH's adjusted operating profit margin for the second quarter will be 7.1%, indicating continued improvement compared to the same period last year. The firm also anticipates an acceleration in the company's growth during the second half of the year. Consequently, Goldman Sachs has maintained its "Buy" rating on the stock, with a target price set at HK$65.

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