花旗：极兔速递-W续予“买入”评级 维持目标价15港元

Core Viewpoint - Citigroup maintains a "Buy" rating on J&T Express-W (01519), believing it has strong growth momentum in Southeast Asia and emerging markets [1] Group 1: Company Analysis - J&T Express plans to issue HKD 4.65 billion zero-coupon guaranteed convertible bonds [1] - Citigroup considers the terms of the convertible bonds reasonable due to the attractive conversion premium, high interest rates on existing debt, and J&T's growth potential in global markets [1] Group 2: Market Outlook - The company is expected to leverage its development potential in Southeast Asia and emerging markets, which is viewed positively by analysts [1] - The target price for J&T Express is set at HKD 15 [1]