《大行》華泰證券升極兔速遞(01519.HK)目標價至12.4元 續籲「買入」
華泰證券研究報告指,極兔速遞(01519.HK)上半年收入55億美元,按年增長13.1%;歸母淨利潤為8,637萬美元,按年增長213%;經調整淨利潤1.6億美元,按年增長147.1%,遠超該行預期的1.3億美元。
盈利強勁增長主要因東南亞電商市場高速增長,帶動公司快遞件量增長。上半年公司在東南亞市場的份額按年進一步提升5.4個百分點至32.8%,穩居第一。同時,新市場盈利表現亮眼,EBITDA利潤實現扭虧為盈。
該行看好海外電商GMV高增長,將帶動集團2025至27年件量保持高速增長;同時,集團為東南亞最大快遞公司,規模與成本競爭優勢顯著,市場份額有望進一步提升,重申「買入」評級,目標價由10.8港元升至12.4港元。
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