HK-listed JD Health falls most in over 2 months, Daiwa cuts PT

JD Health International

24/05/2021 05:38

** Shares of Chinese internet healthcare provider JD Health
International Inc  6618.HK  fall as much as 7.8% to HK$109.20,
on course for worst session since March 8
    ** Stock is second-biggest percentage decliner in Hang Seng
Tech Index  .HSTECH  and among the 30-most actively traded by
turnover
    ** Brokerage Daiwa Capital Markets cuts JD Health's TP to
HK$130.50 from HK$148.20 on lower avg valuation than peers in
past few months, regulatory uncertainties and inflation fears 
    ** However, Daiwa upgrades stock to "outperform" from "hold"
on "more reasonable" valuation after >20% drop in the past 4
months, its robust growth momentum and strong growth outlook 
    ** The Hang Seng Tech Index  .HSTECH  falls 2.2% and the
healthcare index  .HSCIH  drops 1.4%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.8%
and the benchmark index  .HSI  slips 0.4%
    ** As of last close, the stock of the Beijing-based company
fell 21.1% this year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)