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《大行報告》摩通下調中通快遞(ZTO.US)目標價至37美元 評級「增持」
摩根大通發表研究報告指,中通快遞(ZTO.US)第三季的業績令人失望。期內,公司未能成功從價格敏感的細分市場中獲得份額,導致定價競爭比預期差,而且銷量份額增長非常有限。隨著管理層愈來愈關注盈利能力而非銷售份額,該行相信未來集團的定價和市場份額之間的動態將布所改善。該行表示,公司管理層維持今年293億至302億件包裹的指引,相當於按年增20%至24%,考慮到今年首九個月的業務狀況,相信其目標可以實現。 該行將集團2023至25財年盈利預測下調1至11%,以反映第三季業績,而美股目標價則由40美元下調至37美元。該行維持集團美股「增持」評級,相信公司強大的執行能力、更完善的物流基礎設施及與直播平台的緊密合作將使其繼續擴大市場份額。
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