ZTO Express (Cayman), Inc. Class A (2057) Gets a Buy From Jefferies
Putting half of his wealth into Chinese concept stocks, 'The Big Short prototype' Michael Burry made a profit this time.
As of June 30th, stocks of Alibaba, baidu, and jd.com together account for about 46% of Burry's entire investment portfolio. Billionaire investor David Tepper previously stated that now is the time to 'buy everything', as Chinese stocks still have a lot of upside potential.
Furui: Maintains a "buy" rating on zto express, with the target price raised to HK$222.
Credit Suisse released a research report stating that it maintains a "buy" rating on zto express-W (02057), expecting the company's third-quarter adjusted profit to be 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%, with the target price increased from 214 Hong Kong dollars to 222 Hong Kong dollars. The report mentioned that based on recent industry trends and peer business trends, there has been a slight upward adjustment in the third-quarter parcel volume growth forecast for zto express. The forecast has been revised from a year-on-year increase of 18% to 19%, with a total parcel volume of 9 billion. The year-on-year growth in comparison to the second quarter has accelerated due to incentives for franchise operators and enhancements to the franchise.
Furui: Maintains a "buy" rating on zto express-W (02057) with a target price raised to 222 Hong Kong dollars.
Futu expects zto express -W (02057) to have a third-quarter adjusted profit of 2.5 billion yuan.
Dah Sing raises zto express (02057.HK) target price to 222 yuan, slightly adjusting third-quarter parcel volume growth forecast.
Based on recent industry and peer business trends, Furui slightly raised the third-quarter parcel volume growth forecast for zto express (ZTO.US) (02057.HK). The forecast has been adjusted from an 18% annual growth to 19%, with a total parcel volume of 9 billion. The year-on-year growth rate compared to the second quarter has accelerated due to incentives for franchisees and improvements in the management of key performance indicators for franchisees. The bank expects the average freight rate to decrease by about 2% annually, benefiting from fleet operations and resource utilization improvements, with transportation and sorting costs per order per parcel expected to decrease by about 3 Chinese yuan. The bank expects the company's third-quarter adjusted profit to be 2.5 billion Chinese yuan.
Global stock markets welcome the 'most call morning of the year,' as Goldman Sachs fund flow experts exclaim that this 'china trade' is different from the past.
Goldman Sachs expert Rubner mentioned that FOMO is starting to appear locally in China; in the past 48 hours, he conducted more China-related Zoom calls than all related meetings within this year; short-term traders in Goldman Sachs PB business have been buying Chinese stocks for eight consecutive days, with the net buying amount of Chinese stocks in PB business this Tuesday reaching the second highest level in ten years, almost entirely from long positions.