Futu estimates zto express-W (02057) third-quarter adjusted profit of 2.5 billion yuan.
According to Zhongtong Finance APP, Futu released a research report stating that it maintains a "buy" rating for zto express-W (02057), with an expected third-quarter adjusted profit of 2.5 billion yuan, higher than the previous forecast of 2.3 billion yuan. The full-year parcel volume growth forecast has been raised from 15% to 16%, and the target price has been raised from 214 Hong Kong dollars to 222 Hong Kong dollars.
The report stated that based on recent industry and peer business trends, a slight increase in the third-quarter parcel volume growth forecast for zto express is expected. The forecast has been adjusted from a year-on-year growth of 18% to 19%, with a total parcel volume of 9 billion. The year-on-year growth compared to the second quarter has accelerated due to incentives for franchisees and improvements in the management of key performance indicators for franchisees.