[ET Net News Agency, 1 December 2020] Credit Suisse raised its target price for Meituan
(03690) to HK$340 from HK$310 and maintained its "outperform" rating.
The research house said Meituan reported solid 3Q results, thanks to the better margin
of in-store business and other gains. With core business firmly recovered, the future
growth driver would be the online groceries business, especially through the community
purchase model into lower-tier cities.
Credit Suisse said that Meituan stands out for its advantages for its execution track
record of its strong BD (business development) team, relationship with the local
franchisees, profitable core business (to buffer the short term losses), and support from
WeChat ecosystem.
Credit Suisse lowered its 2020-22 earnings forecasts by 1%-8% on near term investment
for Meituan Select. (KL)
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03690 MEITUAN-W
Nominal 
111.500 0.000 (0.000%) Others
01/12/2020 17:45
{I-bank focus}Credit Suisse raises Meituan (03690) to HK$340
| Remark: | Real time quote last updated: 26/04/2024 07:58 |
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