Goldman Sachs to hold us buy rating to 31 USD

Beijing time October 28 Evening News, Goldman Sachs today released a study to maintain the "buy" rating of the Nyse:jmei stock, the target price from 42 U.S. dollars to 31 dollars.

The following is a summary of the contents of the report:

Poly-Mei excellent products are promoting its "poly-American overseas purchase" as its future business, designed to replace its market platform business. Poly-US overseas purchase will be the first batch of products to domestic warehouses, and then sent to the buyer by piece. The service allows users to purchase reliable overseas products at a competitive price.

In the short term, the decline in gross profit margins will affect the diluted earnings per share. But in the long run, this helps to strengthen the leading position in the market, thereby enhancing the user's viscosity.

To reflect the sluggish GMV (total turnover) and the uncertainty of the new business, we have adjusted the aggregate price/earnings ratio from 35 times to 30 times times.

Valuation: We continue to maintain the "buy" rating of the poly-US stock market, which will reduce the target share price from 42 US dollars to $31. (Li Ming)