[ET Net News Agency, 10 July 2020] Huatai Research initiated coverage on Meituan
Dianping (03690) with a "buy" rating and target price of HK$230.2.
The research house said Meituan's 448.6mn transacting users and 6.1mn merchants (as
of 1Q) make it China's largest online lifestyle services platform. Huatai believes
Meituan's three engines, food delivery, in-store/travel/hotel, and new initiatives, will
drive strong profit growth in the long term.
Leveraging its large and sticky user base, Meituan has the potential to further improve
monetization by adding to its wide range of lifestyle services that already includes food
and beverages, beauty care, and travel and hotels.
Huatai forecast Meituan's non-IFRS net income to achieve a 2020-2022 CAGR of 78.6%,
and Meituan's ROE to expand to 20% at the mature stage. (KL)
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03690 MEITUAN-W
Nominal 
139.800 +7.000 (+5.271%) Research Report
10/07/2020 10:12
{I-bank focus}Huatai starts Meituan (03690) at HK$230.2
| Remark: | Real time quote last updated: 24/09/2024 17:59 |
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