{"id":11116,"date":"2023-05-19T18:55:55","date_gmt":"2023-05-19T22:55:55","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/morgan-stanley-raises-zto-express-numbers-again-after-a-sixth-consecutive-quarterly-beat\/"},"modified":"2023-05-19T18:55:56","modified_gmt":"2023-05-19T22:55:56","slug":"morgan-stanley-raises-zto-express-numbers-again-after-a-sixth-consecutive-quarterly-beat","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=11116","title":{"rendered":"Morgan Stanley raises ZTO Express numbers again after a sixth consecutive quarterly beat"},"content":{"rendered":"
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\u00a9 Reuters. Morgan Stanley raises ZTO Express (ZTO) numbers again after a sixth consecutive quarterly beat<\/span>
\n<\/i>\n<\/div>\n

ZTO Express (NYSE:)\u00a0shares are up about 4% in pre-market Thursday trading after the company delivered Q1 results, which were described by Morgan Stanley analysts as \u201cstrong\u201d.<\/p>\n

ZTO posted an of CNY 2.38 (CNY 1 = $0.1422) per share on revenue of CNY 8.98 billion. Analysts were expecting CNY 1.82 per share on revenue of CNY 9.17B.<\/p>\n

“The recovery momentum seemed to have continued into the second quarter. We anticipate that the express delivery industry would expand steadily entering into the rest of the year,\u201d the company said in a press release.<\/p>\n

The delivery services company hiked its Parcel volume outlook for the full year. It now sees Parcel volume at 29.75B, up from the prior forecast of 29.3B.<\/p>\n

The company also said it remains committed to increasing its market share by at least 1.5 percentage points for 2023.<\/p>\n

Morgan Stanley analysts delivered the second earnings upgrade in just three months after ZTO posted \u201ca sixth consecutive quarterly beat.\u201d<\/p>\n

The stock remains a Top Pick at Morgan Stanley with the price target raised to $41.50 per share.<\/p>\n

\u201cZTO delivered over 80% YoY earnings growth in 1Q23, much faster vs. peers (-14% YoY to +34% YoY) despite a soft consumption recovery in China and soft sentiment from e-commerce demand. In 1Q23, its profit share in Tongdas was ~60%, thanks to its relatively stronger pricing power and cost leadership from sustained infrastructure investment, in addition to its expanded market share. ZTO is trading at 14×2024 P\/E, versus earnings CAGR of 28% during 2023-2025, which we view as attractive,\u201d analysts wrote in a note.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Morgan Stanley raises ZTO Express (ZTO) numbers again after a sixth consecutive quarterly beat ZTO Express (NYSE:)\u00a0shares are up about 4% in pre-market Thursday trading after the company delivered Q1 results, which were described by Morgan Stanley analysts as \u201cstrong\u201d. ZTO posted an of CNY 2.38 (CNY 1 = $0.1422) per share on […]<\/p>\n","protected":false},"author":1,"featured_media":11117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-11116","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMorgan Stanley raises ZTO Express numbers again after a sixth consecutive quarterly beat | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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