大行评级丨瑞银:下调中通快递目标价至26.6美元,整体行业增长明显放缓

格隆汇
Aug 20
瑞银发表研报指,中通快递第二季经调整纯利同比升50%至31亿元,胜市场预期8%。若撇除税务退税的一次性影响,业绩则大致符合预期。在反内卷背景下,行业正由低价竞争转向高质量发展,整体行业增长明显放缓。中通快递已下调全年包裹量指引,预计为6%到10%(原本10%到13%)。该行相应下调公司全年盈利预测5%,预期今年经调整纯利为109.5亿元,同比升15%,其中第三季约为24.4亿元。该行将中通快递目标价由28美元下调至26.6美元,续予“买入”评级。

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