[ET Net News Agency, 22 July 2020] Citi Research raised its target price for Meituan
Dianping (03690) to HK$242 from HK$145 and maintained its "buy" rating.
Meituan will report 2Q in end of August. The research house believes that it will likely
be another solid result meeting or exceeding expectations driven by a possibly
stronger-than-expected recovery in food delivery, in-store, and strong traction of its
grocery delivery and B2B Kuailv business.
With 100% year-to-date return on share price, Citi believes the latest momentum has
reflected investors' confidence on Meituan's sustainable growth prospects, especially for
its on-demand services and "discovery gateway" for food + lifestyle necessities, as well
as its uniqueness with both ToC and ToB platform.
Citi adjusted its 2020-22 revenues/non-GAAP profit by 0.0%/-0.2%, +1.2%/-5% and
+6%/+6.8% respectively. (KL)
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03690 MEITUAN-W
Nominal 
115.600 +4.100 (+3.677%) Research Report
22/07/2020 15:36
{I-bank focus}Citi raises Meituan Dianping (03690) to HK$242
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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