大行评级丨德银：上调震坤行目标价至4.6美元，维持“买入”，长期增长潜力显著_老虎社区_美港股上老虎

大行评级丨德银：上调震坤行目标价至4.6美元，维持“买入”，长期增长潜力显著

格隆汇03-30

震坤行2025年四季度业绩超市场预期，德意志银行随即上调公司目标价并维持买入评级。公司Q4收入同比增长7.9%至25.6亿元，超预期3%；经调整净利润1490万元同比扭亏，净利率0.6%超预期20个基点。期内GMV29.18亿同比增8.5%，管理层预计一季度GMV增速将进一步提升至双位数。客户规模快速扩张，Q4客户数同比增60%至7.38万。各业务线表现亮眼，震坤行平台，大客户和中小客户的GMV...

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