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Research Report

30/03/2021 17:14

{I-bank focus}Macquarie trims Meituan (03690) to HK$316

[ET Net News Agency, 30 March 2021] Macquarie Research trimmed its target price for
Meituan (03690) to HK$316 from HK$362 and maintained its "neutral" rating.
The research house said Meituan signaled it would continue to invest aggressively in
2021 into new initiatives. While core food delivery and in-store trends were largely
healthy, nothing stood out as being too exceptional versus expectations.
It expects the stock to remain range-bound, with the bulls continuing to argue for
Meituan's strong execution skills as a long-term positive while bears reflect on the
significantly higher costs. Macquarie cut its 2021/22 non-IFRS net profit by 364%/102%.

Remark: Real time quote last updated: 17/06/2021 16:15
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