Glonghui, January 5 | Motong published a report, upgrading Kerry Logistics's rating from “neutral” to “increasing holdings”, increasing the profit estimates for the next two years by 14% to 16%, and raising the target price accordingly from HK$9 to HK$11. According to the bank, due to a sharp reduction in freight rates last year, Kerry Logistics was criticized downwards, but it believes that this year's freight trend has turned more optimistic. Looking ahead to this year, the bank predicts that Kerry Logistics' profits will rebound 128%, mainly due to a recovery in freight rates and a plan to withdraw from Kerry Logistics' loss-making Thailand business. The bank believes that Kerry Construction's positioning in the logistics sector can benefit most from the structural growth of cross-border e-commerce, and it is expected that this year's profit rebound will drive a critical evaluation of valuations.
大行评级｜摩根大通：上调嘉里物流评级至“增持” 预测今年盈利将反弹128%
Major Bank Ratings | J.P. Morgan Chase: Upgrading Kerry Logistics's Rating to “Increase in Wealth” Predicts a 128% Rebound in Profits This Year
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