Group 1 - Morgan Stanley reports that ZTO Express (02057) will continue to be a preferred stock in the transportation industry over the next 3 to 6 months, raising the target price for its H-shares from HKD 187 to HKD 197 with a "Buy" rating [1] - The target price for ZTO Express (ZTO.US) in the US market has been increased from USD 24 to USD 25, maintaining the "Buy" rating [1] - The management of ZTO Express indicated that anti-involution policies are fundamentally reshaping the competitive landscape, shifting the industry focus from quantity-driven growth to quality and profitability [1] Group 2 - ZTO Express is benefiting significantly from current industry developments, continuing to expand its market share while demonstrating robust profit performance [1]
小摩：中通快递-W(02057)受惠政策顺风 升目标价至197港元 予“增持”评级