Goldman Sachs raised its target price for Meituan Dianping (03690) to HK$104 from HK$97.5 and maintained its "buy" rating.
Meituan Dianping will report 3Q results on 21 November. The research house expects a solid set of results that could slightly beat current sell-side expectations, with group revenue growth of 36% (BBG consensus: 34%) and adjusted net profit at around breakeven (Rmb59mn versus BBG consensus: Rmb-254mn).
Goldman also lifted its 4Q order volume forecasts, on the back of its 43% order growth during October Golden Week, while maintaining 4Q EBIT expectations of Rmb0.3 loss per order with elevated subsidies.
21/10/2019 15:42
{I-bank focus}Goldman ups Meituan Dianping (03690) to HK$104
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