[ET Net News Agency, 24 August 2020] Jefferies Research raised its target price for
Meituan Dianping (03690) to HK$300 from HK$228 and maintained its "buy" rating.
The research house said Meituan's 2Q results beat across different segments and food
delivery margins delivered a surprise. In 3Q, Jefferies expects all business lines to
accelerate on the back of a recovery story and as food delivery enters a peak season.
With the success of the "food plus platform strategy", backed by technology, Jefferies
believes it is strategically important to unlock the power of its ecosystem into new
areas. (KL)