Yamato: Upgraded rating to "buy" for Sagawa Express-W (02057.HK), target price raised to 180 Hong Kong dollars.

According to the Wise Finance and Economics APP, Daiwa has released a research report stating that it has upgraded its rating on ZTO Express (02057.HK) from "outperform" to "buy" with a target price raised from HK$155 to HK$180. The bank believes that ZTO's lower parcel volume growth target combined with improvements in industry pricing environment will drive a re-evaluation of the stock.