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03690 MEITUAN-W
RTNominal down111.500 -2.100 (-1.849%)
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21/01/2021 17:05

{I-bank focus}Jefferies lifts Meituan (03690) to HK$394

[ET Net News Agency, 21 January 2021] Jefferies Research lifted its target price for
Meituan (03690) to HK$394 from HK$360 and reiterated its "buy" rating.
The research house reaffirmed its positive view on Meituan's strong execution and
potential to unlock the value of its "food plus platform" strategies. Solid offline
operational capabilities and technological strength should pave the way for it to capture
the long-term opportunities in online grocery, as reflected in the latest industry trends.
Jefferies expects Meituan's non-GAAP net income to decline by 46.1% to RMB2,516mn for
2020. (KL)

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