Bank of America upgraded ZTO Express's rating from neutral to buy, raising its price target from $22.00 to $29.00.

Bank of America raised its rating for ZTO Express (Cayman) (NYSE: ZTO) from neutral to buy, increasing the price target from $22.00 to $29.00. The Chinese express delivery and logistics services provider has a market cap of $12.75bn and a P/E ratio of 14.20. JPMorgan Chase & Co. lowered its price target for ZTO Express from $37.00 to $30.00, while HSBC maintained a buy rating with a reduced target price of $30.00.