由1到N，厚积薄发

东方财富2025-07-06

顺丰控股(002352)本报告导读：顺丰“由1到N”进阶综合大物流，长期空间广阔。通过融通与变革持续降本，顺丰的盈利能力逐年增强，叠加Q2起量增领跑行业，看好顺丰全年业绩确定性。投资要点：投资建议：给予“优于大市”评级，目标价59.31元。尽管行业价格竞争加剧，但我们认为顺丰业绩增长仍有较强确定性，我们预测公司2025-2027年归母净利润分别为118.44、136.44、153.39亿元（原为...

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