[ET Net News Agency, 1 December 2020] Daiwa Research lifted its target price for
Meituan (03690) to HK$350 from HK$300 and maintained its "buy" rating.
The research house said Meituan's stronger-than-expected 3Q results were another
positive surprise, as the profitability of all three segments was higher than Daiwa's
expectations.
Moreover, Daiwa is even more upbeat on its revenue growth momentum and sees upside risk
to its 2021 revenue forecast, given Meituan's (1) foray into the grocery retail segment
that is likely to accelerate its new initiatives' revenue and (2) strong rebound in
in-store, hotel and travel revenue due to the low base in 1H. (KL)
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03690 MEITUAN-W
Nominal 
111.500 -2.100 (-1.849%) Others
01/12/2020 17:09
{I-bank focus}Daiwa lifts Meituan (03690) to HK$350; "buy"
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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