研报掘金丨中金：上调中通快递目标价至25美元 上调今明两年盈利预测

Group 1 - The core viewpoint of the report indicates that ZTO Express's third-quarter single-package profit has increased quarter-on-quarter, with a non-GAAP net profit of 2.506 billion yuan, representing a year-on-year increase of 5% and a quarter-on-quarter increase of 22%, which is better than the firm's expectations [1] - The primary reason for the profit recovery is attributed to the industry's "anti-involution" price increases [1] - The firm has raised its earnings forecasts for ZTO Express for the next two years by 6% and 2% to 9.547 billion yuan and 10.501 billion yuan, respectively, and has increased the target price for its U.S. stock by 9% to $25, maintaining an "outperform" rating [1]