JP Morgan: maintains an "overweight" rating on JD-SW (09618) with a target price of 200 Hong Kong dollars.

JPMorgan Chase released a research report stating that it maintains a "buy" rating for JD-SW (09618) with a target price of 200 Hong Kong dollars. JD's revenue in the last quarter increased by 13% year-on-year, higher than the bank's and market forecasts; adjusted net profit increased by 34% year-on-year, and adjusted earnings per share increased by 40%, both higher than the bank's and market forecasts. The bank stated that JD's performance in the last quarter was solid and exceeded expectations, and expects the stock price to have a positive response. During the period, the group's revenue increased by 13% year-on-year, higher than the bank's and market forecasts by 10% and 9% respectively; adjusted net profit increased by 34% year-on-year; adjusted earnings per share increased by 40%, which is 18% and 20% higher than the bank's and market forecasts, respectively.