Citi: SF Holding and J&T EXPRESS-W cooperation enhances both parties' competitiveness, raises J&T EXPRESS-W target price to 13.6 yuan, ranking it as the industry's top choice
The report from Citi Research indicates that SF Holding and J&T EXPRESS-W announced mutual subscription of new shares, valued at HKD 8.299 billion. This collaboration reflects the determination of both management teams to achieve "1 plus 1 greater than 2." SF's logistics foundation complements J&T's overseas delivery network, enhancing the competitiveness of both parties. J&T's net profit forecast for the fiscal years 2025 to 2027 has been raised by 7%-9%, with a target price increased to HKD 13.6, rated as "outperforming the market." SF's net profit forecast for the fiscal years 2026 and 2027 has been lowered by 3%, with a target price reduced to HKD 44.1, also rated as "outperforming the market."
AASTOCKS·
