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22684 UBMTUAN@EC2503A (CALL)
RT Nominal up1.520 +0.060 (+4.110%)

29/01/2024 14:46

{I-bank focus}Morgan Stanley lowers Meituan (03690) to HKD85

[ET Net News Agency, 29 January 2024] Morgan Stanley lowered its target price for
Meituan (03690) to HKD85 from HKD120 and maintained its "equal-weight" rating.
The research house said it cuts non-GAAP OP forecasts by 15-18% for 2024-25E, factoring
in food delivery near-term challenges, IHT competition concerns, and an unclear
profitability path for Meituan Select. (RC)

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