ZTO Express price target lowered to $30 from $32 at HSBC

HSBC lowered the firm’s price target on ZTO Express to $30 from $32 and keeps a Buy rating on the shares. The company’s Q4 EBIT missed forecasts on intensifying price competition but the dividend policy of at least 40% payout is positive, the analyst tells investors in a research note. The firm believes ZTO remains well positioned with its scale and now dividend outlook.