0411 GMT - J&T Global Express's Southeast Asian business might not grow as fast as the Chinese delivery company expected, Morningstar's Chelsey Tam says in a commentary. The analyst expects the company's Southeast Asia express volume share to increase to 29% by 2028. That compares with J&T Express's goal of quickly increasing its volume market share in Southeast Asia to 40%, she notes. Increasing gross merchandise volume share gains for e-commerce platform Shopee and express volume share gains for its logistics arm, SPX Express, will limit J&T's upside volume share gain potential, Tam says. She keeps a fair-value estimate of HK$6.10 on J&T Express. Share are last at HK$6.54. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 23:11 ET (04:11 GMT)
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