[ET Net News Agency, 3 December 2020] J.P. Morgan lifted its target price for Meituan
(03690) to HK$270 from HK$235 and reiterated its "neutral" rating.
The research house sees Meituan's 3Q results as another testament to its execution
capability in the core food delivery (FD) and instore segments and JPM believes there's
still upside for its profitability to further improve into 2021 and longer-term.
While the longer-term outlook for the online grocery business (especially Meituan
Select) is unclear, in terms of GTV (gross transaction volume) upside, unit economics,
etc., the potential addressable market size indeed is meaningful and may expand its user
base significantly, easing a major concern of its current core businesses. (KL)
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03690 MEITUAN-W
Nominal 
111.500 -2.100 (-1.849%) Others
03/12/2020 10:43
{I-bank focus}JP Morgan lifts Meituan (03690) to HK$270
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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