CICC Research lifted its target price for Meituan Dianping (03690) to HK$110 from HK$90 and maintained its "outperform" rating.
The research house said Meituan's 3Q revenue beat consensus by 5.7% on strength across business segments; non-GAAP operating profit for new initiatives and in-store business was
better than expected while that for food delivery was in line.
CICC raised its 2019-20 revenue forecasts by 3.5 % and 2.2% and non-GAAP net profit forecast by around Rmb4.3bn and Rmb0.7bn.
22/11/2019 13:51
{I-bank focus}CICC lifts Meituan Dianping (03690) to HK$110
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