JD Logistics Likely to See Margin Improvement in 2024 -- Market Talk

Dow Jones03-07

0730 GMT - JD Logistics is likely to deliver "persistent margin improvement" this year by improving efficiency in areas such as rental and outsourcing cost optimization, Citi analysts led by Brian Gong say in a research note. The technology-driven supply chain and logistics services provider is also likely to see its year-over-year loss narrowing significantly in 1Q as its expenses were higher in the same quarter last year to ensure deliveries during the Covid-infection period. Citi keeps a buy rating, but cut its target price from HK$15.00 to HK$12.00, to bring it in line with peers. Shares are up 4.8% at HK$8.06. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

March 07, 2024 02:30 ET (07:30 GMT)

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Citi keeps a buy rating, but cut its target price from HK$15.00 to HK$12.00, to bring it in line with peers. Shares are up 4.8% at HK$8.06. 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