智通财经APP获悉，里昂发布研报称，中通快递(02057,ZTO. US)第三季收入及经调整净利润分别同比增长11%及7%，每单经调整净利润为约0.27元人民币，较第二季的0.21元人民币改善，看好其核心每单成本因新转运中心投产仅上升0.02元人民币。维持“跑赢大市”评级，港股目标价152港元，美股目标价亦维持20美元不变。
该行指出，行业反内卷政策预期将持续实施，相信监管机构会继续透过设定价格下限，来严格遏止价格恶性竞争。考虑到中通客户结构较同业好，里昂预期该公司明年市场份额可回升，将2025及2026年净利润预测轻微上调2%。
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