Core Viewpoint - Daiwa has reiterated a "Buy" rating for J&T Express-W (01519), raising the target price from HKD 11 to HKD 12.5 to reflect growth potential in Southeast Asia and new markets [1] Group 1: Market Outlook - The Thai market has undergone years of intense competition and is now trending towards consolidation, with management optimistic about the business outlook in Thailand and aiming to increase market share [1] - Management anticipates that the growth potential for parcel volume in Thailand has five times the upside compared to the current market size [1] Group 2: Competitive Advantages - J&T Express possesses several competitive advantages that are expected to allow the company to exceed the average growth rate of the Thai industry, including: - Highest density of delivery personnel coverage - Level of equipment automation - Growth in non-e-commerce parcel volume - High alignment of employee interests - Diversified global business layout [1]
大和：升极兔速递-W(01519)目标价至12.5港元 评级“买入”