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<Research> Macquarie: ZTO Express (Cayman) Inc. (ZTO.US) 1Q Volume and ASP Rise; TP Raised to USD31.4
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Macquarie said in a report that ZTO EXPRESS-W (02057.HK) delivered strong parcel volume and revenue performance in 1QYY, but margins were slightly below expectations as the company prioritized volume growth over pricing. Nevertheless, with increasing contributions from returns and retail parcels, as well as the integration of automation and AI technologies, its market share, average selling price and unit economics all expanded. The broker maintained an Outperform rating on ZTO Express (Cayman) Inc. (ZTO.US) and raised its US stock TP by 3% to USD31.4. As the industry establishes a pricing floor, it believes the company is well positioned to gain additional volume share, supported by its competitive advantages in customer service. (su/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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