CMB International Securities analyst Wayne Fung maintained a Buy rating on J&T Global Express Limited today and set a price target of HK$10.00.
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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 performance and growth potential. The company’s impressive parcel volume growth in Southeast Asia, particularly a 66% year-over-year increase, underscores its robust market presence in the region. This growth is further supported by partnerships with major e-commerce platforms like Temu, Shein, and TikTok, which have contributed significantly to the company’s expanding market share.
Additionally, J&T’s operations in China and new markets such as Brazil also show promising growth trajectories. In China, despite a slower growth rate compared to the previous year, the company still achieved a 15% increase in parcel volume, with high-value reverse parcels and individual orders making up a notable portion. Meanwhile, the Brazilian market’s expansion, bolstered by collaboration with Mercado Libre, presents new opportunities for growth. These factors, combined with a revised target price of HK$10, reflect Wayne Fung’s positive outlook on J&T’s future performance.
According to TipRanks, Fung is a 3-star analyst with an average return of 6.5% and a 53.57% success rate. Fung covers the Industrials sector, focusing on stocks such as Sany Heavy Equipment International Holdings Co, J&T Global Express Limited, and Ehang Holdings.