In a report released today, Wayne Fung from CMB International Securities reiterated a Buy rating on J&T Global Express Limited, with a price target of HK$13.40.
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Wayne Fung has given his Buy rating due to a combination of factors that highlight J&T Global Express Limited’s strong growth potential, particularly in Southeast Asia (SEA). The company experienced a remarkable 79% year-over-year increase in parcel volume in SEA during the third quarter of 2025, which significantly contributes to the overall growth trajectory. This impressive growth is attributed to the increasing penetration of e-commerce and J&T’s ability to capture market share by offering cost-effective logistics solutions.
Additionally, while the parcel volume growth in China has slowed to 10% due to the “anti-involution” campaign, there has been a rebound in average selling prices (ASP), aligning with industry trends. Furthermore, J&T’s expansion into new markets such as Brazil and the Middle East presents strong growth potential, with a 48% year-over-year increase in these regions. Despite potential risks like ASP pressure and competition in new markets, the company’s strategic positioning and market share gains underpin the Buy recommendation.
In another report released on September 29, DBS also initiated coverage with a Buy rating on the stock with a HK$12.50 price target.