《大行》麦格理料中通快递(ZTO.US)受益反内卷措施推动盈利能力改善 目标价升至30.4美元

阿斯达克财经
Mar 19

麦格理研究报告指出,中通快递-W(02057.HK) 2025年第四季业绩处于预测高端。在反内卷政策和逆向物流量增长下,每件快递平均收入(ASP)维持正增长。该行相信中通将受益于反内卷措施,推动2026年增长比行业快,并改善盈利能力。未来展望,麦格理表示,进入2026年,随着行业在反内卷政策下向高质增长转型,相信中通凭借其价值定位,将占据最佳优势,继续跑赢市场进一步扩大市场份额。预期每件快递...

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