《大行》野村升極兔速遞(01519.HK)目標價至9元 東南亞業務強勁
野村發表研究報告指,極兔速遞-W(01519.HK)第二季營運數據反映業務呈區域性分化,當中東南亞業務增長強勁,主要來自於電商平台促銷活動增加、TikTok Shop及Temu等合作夥伴業務擴張,以及非平台包裹的貢獻。上半年東南亞包裹量按年增長58%,遠超全年增長25%至30%的指引,野村預計極兔可能會上調東南亞市場全年增長目標。
在價格競爭加劇的影響下,野村將極兔中國市場全年包裹量增長預測從20%下調至17%,經調整後EBIT預測下調37%至1.34億元人民幣;而東南亞全年包裹量增長預測則從28%上調至50%,經調整EBIT預測上調17%至4.75億元人民幣。野村維持極兔速遞的「買入」評級,目標價從7.3元上調至9元。
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