Citi lowered the firm’s price target on ZTO Express (ZTO) to $22.60 from $26.40 and keeps a Buy rating on the shares. Amid more intense than expected price competition, product structure change and volume incentives may continue to impact ZTO’s selling prices, the analyst tells investors in a research note. The firm says that while ZTO’s April faced some challenge in volume growth, recent May parcel volume growth was around 20% year-over-year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZTO:
- ZTO Express Reports Strong Parcel Volume Growth
- ZTO Express reports Q1 EPS RMB2.71 vs. RMB2.68 last year
- ZTO Express reaffirms FY25 parcel volume view 40.8B-42.2B
- ZTO Express reports Q1 adjusted EBITDA $508M, up 0.7% y/y
- ZTO Express: Buy Rating Reaffirmed Amid Strong Growth and Strategic Market Positioning