Core Viewpoint - Goldman Sachs reports that ZTO Express's Q3 net profit exceeded expectations due to normalized price competition, with adjusted net profit growing by 5% year-on-year, surpassing the bank's and market forecasts by 27% and 25% respectively [1] Group 1: Financial Performance - ZTO Express's adjusted net profit for Q3 increased by 5% year-on-year, exceeding Goldman Sachs' and market expectations [1] - The bank raised ZTO Express's target price to HKD 179 for H-shares and USD 23 for US shares, maintaining a "Buy" rating [1] Group 2: Future Projections - Goldman Sachs has revised its revenue forecasts for ZTO Express from 2025 to 2027 upwards by 0% to 4% and adjusted net profit forecasts by 6% to 8% [1] - For Q4 of this year, ZTO Express is expected to see a 10% year-on-year increase in package volume and a 1% rise in average price, leading to an anticipated 12% year-on-year revenue growth [1]
大行评级丨高盛：中通快递第三季纯利胜预期 H股目标价为179港元