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<Research>Citi Sets JD LOGISTICS (02618.HK) TP at $18 as Full-time Rider Recruitment for JD Food Delivery Has Synergies
JD LOGISTICS (02618.HK) swelled over 6% to $13.08 this morning as it announced that, with the development of the food delivery business of JD-SW (09618.HK) together with its subsid...
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<Research>Citi Sets JD LOGISTICS (02618.HK) TP at $18 as Full-time Rider Recruitment for JD Food Delivery Has Synergies
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JD LOGISTICS (02618.HK)  +0.380 (+3.002%)    Short selling $11.13M; Ratio 5.987%   swelled over 6% to $13.08 this morning as it announced that, with the development of the food delivery business of JD-SW (09618.HK)  -0.100 (-0.077%)    Short selling $197.60M; Ratio 21.109%   together with its subsidiaries and consolidated affiliated entities, JD LOGISTICS has begun recruiting full-time riders to participate in delivery services of JD Food Delivery.

After JD LOGISTICS announced the commencement of recruitment of full-time riders, there are some synergy effects between full-time delivery riders and JD LOGISTICS' last-mile express business, as the peak times for both businesses differ, Citi Research issued a research report saying.

Related NewsG Sachs Expects 10-11% GMV Growth in 2025 618 Festival, Prefers JD/ KUAISHOU
Considering the undemanding valuation, Citi Research kept rating at Buy on JD LOGISTICS, with a target price of $18, equivalent to a 12x 2025 projected PE ratio.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-27 12:25.)

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