0309 GMT - JD Logistics' acquisition of Kuayue Express is a positive move, Citi analysts led by Brian Gong and Alicia Yap say in a research note. They note the deal demonstrates reasonable valuation and signals potential earnings enhancement to JD Logistics. Following the deal, the logistic arm of JD.com could further integrate with Kuayue in terms of air cargo capacities, transportation vehicles and sales force, they add. Citi maintains a buy rating for JD Logistics on decent margin improvements, potential benefits from trade-in subsidies and other factors, with a target price of HK$19.00. Shares are 1.4% higher at HK$14.56. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
December 08, 2024 22:09 ET (03:09 GMT)
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