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03690 MEITUAN-W
RTNominal down111.500 -2.100 (-1.849%)
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24/08/2020 17:10

{I-bank focus}Goldman ups Meituan Dianping (03690) to HK$256

[ET Net News Agency, 24 August 2020] Goldman Sachs raised its target price for Meituan
Dianping (03690) to HK$256 from HK$191 and maintained its "buy" rating.
The research house said Meituan reported better-than-expected 2Q results, where the key
upside surprise came from the profitability of the in-store, hotel & travel segment and
22% revenue growth in its New Initiatives, as Meituan makes further in-roads into online
groceries, eBikes and micro-loans.
Goldman lifted its 2020 revenue estimate by 3% on the back of a solid 2Q, with higher
new initiatives revenues from local mobility, online groceries, and new businesses
rollout, and lifted its 2020 adjusted EBIT to Rmb2.9bn (from Rmb0.3bn). (KL)

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