CMB International: ZTO Express (02057.HK) may see a pleasant surprise in express delivery prices in the next 6 to 12 months. Maintain "buy" rating.

According to the Securities Times Finance App, China Merchant International has released a research report stating that in the second quarter, the express volume of ZTO Express (02057.HK) increased by 16.5% year-on-year. China Merchant International still believes that the average unit price in the next 6 to 12 months may have surprises and could become a catalyst for the stock price. The bank has slightly adjusted ZTO's annual profit forecast for 2025 to 2027 by 1% to 2%, raised the target price from HK$174 to HK$187, and maintained a "buy" rating.