交银国际发表研究报告指，顺丰同城上半年收入增长速度显著胜于预期，加上第三季的实时配送业务需求按季提速，多元布局下盈利持续释放。该行上调公司2025至27年的收入预测14%、12%及12%，至220亿至304亿元，按年分别增长40%、20%及15%；受公司单量密度提升、优质的骑手管理能力及AI加持下，营运费率持续改善，上调利润预测26%、23%和27%，至3.4亿至7.6亿元，Non-IFRS净利润率分别为1.5%、2%及2.6%。 该行认为，顺丰同城仍然是外卖补贴战的受益方之一，在未来补贴回归理性，业务空间仍大，考虑到长期其与顺丰的业务协同持续加深，无人车配送规模化落地持续降低成本，维持公司“买入”评级，又将估值滚动至明年，对应0.5倍市销率，上调目标价至15.4港元。
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