Analyst Wayne Fung from CMB International Securities maintained a Buy rating on J&T Global Express Limited and keeping the price target at 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 market position and growth potential. The company has achieved profitability in Thailand, where it now holds the top position in parcel volume, surpassing the combined volume of its next three competitors. This success is attributed to J&T’s competitive pricing strategies and efficient network, which have resulted in a significant cost advantage.
Additionally, J&T’s growth prospects in Southeast Asia are promising, with expectations that its parcel volume growth will exceed the industry average by 2026. The company’s expansion into new markets like Brazil and the Middle East further supports its growth narrative. With key partnerships in place, such as with TikTok in Southeast Asia and Shein in South America and the Middle East, J&T is well-positioned to capitalize on e-commerce trends. These factors, combined with effective cost management strategies, underpin Wayne Fung’s Buy rating for J&T Global Express Limited.