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03690 MEITUAN-W
RTNominal up128.600 +2.100 (+1.660%)
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01/12/2020 15:52

{I-bank focus}Jefferies raises Meituan (03690) to HK$360

[ET Net News Agency, 1 December 2020] Jefferies Research raised its target price for
Meituan (03690) to HK$360 from HK$300 and maintained its "buy" rating.
The research house said Meituan delivered better-than-expected performances across
different segments in 3Q results. It highlighted a positive outlook in food delivery as
well as recovery in instore and hotel.
On grocery retail, it is an important initiative with great potential with Meitua Select
as key together with other models, with investments to be made for the long run. Riding on
the success of the food plus platform strategy, Jefferies considers strong execution to
stand out in the future. (KL)

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