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Fly News Breaks for April 23, 2019
ZTO
Apr 23, 2019 | 07:43 EDT
As previously reported, UBS analyst Eric Lin upgraded ZTO Express to Buy from Neutral and raised his price target to $22.30 from $19. The analyst notes that while the company could be under margin pressure in the near term on unit parcel price outpacing unit cost declines, he still sees a 23% increase in its annual net profit through 2023 "strong volume growth." Lin adds that in spite of the 22% year-to-date stock price gain, ZTO Express shares are trading at a valuation that is close to its A-listed peers.
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