Bank of America: JD Logistics' acquisition of local instant delivery service has attractive pricing. Target price of 16 Hong Kong dollars.
The bank believes that JD Logistics is attractively valued, with expectations that net profit in the fourth quarter may rebound, potentially becoming a catalyst for the stock price.
Bank of America released a research report stating that JD Logistics plans to acquire JD-SW's local instant delivery services business for approximately $270 million. The bank believes that the acquisition price is attractive because it is lower than the 12.8 to 21 times forecasted P/E ratio of franchise courier operators in 2025. The acquisition price is equivalent to JD Group's 52% privatization of Dada Group for $520 million in June this year. Bank of America maintains a "buy" rating on JD Logistics with a target price of HK$16. The bank believes that JD Logistics' valuation is attractive and expects a rebound in net profit in the fourth quarter, which could be a catalyst for the stock price.
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