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<Research>CLSA Chops MEITUAN-W (03690.HK) TP to $195, Keeps Rating at Overweight
Recommend 13 Positive 26 Negative 7 |
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CLSA released a research report forecasting that MEITUAN-W (03690.HK) will maintain steady performance in its core local commerce business in 1Q25, with total revenue/ adjusted EBIT to grow by 17%/ 44% YoY to RMB85.4 billion/ RMB10 billion, respectively. As intensified competition on JD Food Delivery and rapid overseas expansion could pressure future profit margins, CLSA lowered its 2025/ 2026 adjusted net profit forecasts for MEITUAN-W by 4%/ 6%, and chopped its target price from $217 to $195, with rating kept at Overweight. AASTOCKS Financial News Website: www.aastocks.com |
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