国海证券10月31日发布研报称,给予圆通速递(600233.SH,最新价:16.49元)买入评级。评级理由主要包括:1)单票成本降幅与税费返还对冲降价影响,公司单票盈利稳定;2)产品力不断增强,快递价格同比降幅低于行业,业务量增速仍领先行业;3)夯实国内全链路壁垒,布局国际第二增长曲线。风险提示:行业增速不及预期;价格战重启;管理改善不及预期;成本管控不及预期;加盟商爆仓;快递出海不及预期。文章...
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