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【港股通】美团(03690)跌3.7% 麦格里削其目标价3.8% 料Keeta沙特扩长将产生显著营业亏损

[Hong Kong Stock Connect] Meituan (03690) fell by 3.7%. Magli cut its target price by 3.8%. It is expected that the expansion of Keeta in Saudi Arabia will result in significant operating losses.

Jinwu Financial News | Meituan (03690) saw its stock price continue to decline in the morning, falling 3.7% as of press time, priced at HKD 161.2, with a transaction volume of HKD 2.758 billion.

Macquarie released a report indicating that Meituan's performance in the third quarter is stable, but fluctuations may occur in the short term. Regarding new business, Macquarie believes that the losses of Meituan Preferred will continue to narrow, but also expects Keeta's expansion in Saudi Arabia will lead to significant operating losses in the upcoming periods. Macquarie has downgraded its adjusted EBITDA forecasts for Meituan for this and next year by 7% to account for the strain on profit margins from overseas expansion. However, it remains optimistic about the growth of Meituan's core business.

The company maintains a ' outperform the market' rating for Meituan, lowering the target price from HKD 264 to HKD 254, which corresponds to a forecasted enterprise value to EBITDA ratio of 20 times for the fiscal year 2025.

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