Daiwa: Upgrade JD Health (06618) target price to HK$68.8, maintains "in line with market" rating.

According to the app of China Fortune Financial, Morgan Stanley released a research report stating that the target price of JD Health (06618) has been raised from 60 Hong Kong dollars to 68.8 Hong Kong dollars, based on discounted cash flow valuation, maintaining a "in line with the market" rating. Morgan Stanley stated that after considering JD Health's third-quarter performance, the company has benefited from the growth in direct sales and service revenue, resulting in a 1.4% increase in total revenue forecast for the years 2025 to 2027. In addition, as the scale of drug sales expands and the proportion of advertising revenue increases, the company's gross profit margin is trending upwards. The bank has adjusted its earnings forecasts by 9%, 13%, and 13% respectively for the current period.