BUZZ-China's JD Health rises on demand bets amid respiratory illness spike

Reuters01-19

** Shares of China's JD Health International climb 3.6% to HK$28.85, on track for biggest one-day pct gain since Dec 28

** Stock biggest pct gainer in Hang Seng Index and Hang Seng China Enterprises Index ; second biggest in Hang Seng Tech Index

** HSBC maintains "buy" rating on JD Health and lifts TP to HK$48 from HK$47.50 on better-than-expected top-line outlook for 4Q23 and 1Q24 as recent wave of respiratory illness in China bolstered demand; also cites firm's plans to expand offline pharmacy footprint

** Nomura keeps "buy" on stock, saying 2H23 results likely above estimates on increased 4Q revenue due to higher demand for pharmaceuticals amid spike in influenza cases

** Hong Kong stock of JD.com slips 0.9%

** Hang Seng Tech Index and Hang Seng China Enterprises Index both slip 0.1% while Hang Seng Index

adds 0.2%

** Stock down ~27% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment