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<Research>G Sachs Rates MEITUAN-W at Buy But Trims TP to HKD112
Recommend
12
Positive
15
Negative
7
Goldman Sachs has published a research report predicting MEITUAN-W (03690.HK)'s 4Q25 revenue to have increased by 4% YoY, and the adjusted EBIT loss to have hit RMB15.5 billion. The revenue offset from increased user subsidies led to zero growth in core local e-commerce revenue YoY.

The broker has altered its 2025-27 adjusted profit forecasts for MEITUAN-W by +1%, -32%, and -9%. MEITUAN-W's target price has dropped from HKD120 to HKD112, with a rating of Buy.

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