花旗发表研究报告，指京东物流(02618.HK) 去年第四季收入增长良好，主要受益于以旧换新计划，然而，由于产能投资和工资上升，尽管处于旺季，净利润率仍按季收窄。至于今年的展望，该行料以旧换新计划和市占率扩大将继续推动京东物流智能供应链增长，不过，持续的投资及税率上升可能压制盈利增长。
该行将2025年盈利预测下调5%，维持目标价18元，另考虑到当前估值不高，维持“买入”评级。尽管2025年收入增长走势好于预期，但今年单位数的盈利增长可能令部分投资者失望，短期内可能拖累股价表现。该行相信，这些投资对于实现长期可持续的收入增长属必要。(vc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-06 16:25。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.