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<Research>CLSA Upbeat About J&T EXPRESS-W's Overseas Expansion After Stake Increase in Overseas Operating Entities
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J&T EXPRESS-W (01519.HK) recently announced a significant increase in its stake in subsidiaries Jet Global and JNT Express KSA for an amount as high as USD1.056 billion, with the initial settlement payment of around USD317 million to be paid by the end of this year using its existing cash reserves, according to a CLSA report. These two subsidiaries are responsible for operating J&T EXPRESS-W's new market business entities. Remaining confident in J&T EXPRESS-W's overseas expansion strategy, CLSA estimated its new market business sales/ adjusted EBITDA to reach USD748 million/ USD36 million by 2025. CLSA reiterated an Outperform rating on J&T EXPRESS-W, with a target price of HKD11.9. AAStocks Financial News |
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