HSBC Maintains Buy on ZTO Express (Cayman), Lowers Price Target to $30
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Parash Jain has maintained a Buy rating on ZTO Express (Cayman) (NYSE:ZTO) but has lowered the price target from $32 to $30.

March 21, 2024 | 5:38 pm
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NEUTRAL IMPACT
HSBC analyst Parash Jain maintains a Buy rating on ZTO Express but lowers the price target from $32 to $30.
While the maintenance of a Buy rating by HSBC indicates continued confidence in ZTO Express's fundamentals and growth prospects, the reduction in the price target could reflect adjustments in valuation metrics or market conditions. This mixed signal might lead to short-term uncertainty among investors, potentially stabilizing the stock price as the market digests the news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100