Morgan Stanley lowers J&T EXPRESS-W target price to 9.1 yuan, maintains "in line with the market" rating
Morgan Stanley published a report stating that J&T EXPRESS-W (01519.HK) did not meet expectations for its performance in the first half of the year due to intensified competition in the Chinese market, but the growth prospects in Southeast Asia and emerging markets seem unaffected.
The bank has lowered its adjusted net profit forecasts for J&T EXPRESS-W for 2025 to 2027 by 17%, 8%, and 16% respectively, and reduced the target price from HKD 9.5 to HKD 9.1, maintaining a "Market Perform" rating as the valuation is at a reasonable level
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