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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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