CICC International: Raises SF Express (09699.HK) target price to HK$15.4, maintains "buy" rating.

According to the Wise Finance APP, CICC has raised the target price of SF Express (09699.HK) to 15.4 Hong Kong dollars and maintained a "buy" rating. The bank believes that SF Express is still one of the beneficiaries of the external delivery subsidy war. In the future, as subsidies return to rationality, there is still plenty of room for business growth. Considering the deepening of long-term business synergy with SF, the scale of unmanned vehicle delivery will continue to reduce costs.