HSBC Global Research lifted its target price for Meituan Dianping (03690) to HK$138 from HK$113 and maintained its "buy" rating.
The research house raised its 2020-21 net income forecasts by 3-4% with faster FCF (free cash flow) growth as it expects (1) food delivery profitability to increase to 7% from 4% in 2020, (2) the coronavirus outbreak may prompt more people to eat at home (versus dining out), (3) To-Business solutions to become more attractive on mini programs offering, and (4) Meituan Bike-sharing to lift monetization.
etnet榮獲HKEX Awards 2023 「最佳表現證券數據供應商」大獎► 了解詳情
