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Lehman: Maintain MEITUAN-W "Outperform the Market" rating with a Target Price of HKD 217.
Citi has released a Research Report stating that it maintains a "Outperform" rating for MEITUAN-W (03690), with a Target Price of 217 HKD. The firm forecasts that MEITUAN's core local business's adjusted EBIT will grow 45% year-on-year to 11.6 billion yuan in the last quarter, and profitability across all businesses will improve. It believes that the core local business sector remains robust, with a growth rate of 17% this year and stable profit margins. Citi pointed out that MEITUAN is about to announce its performance, with current forecasts estimating that revenue for the fourth quarter of 2024 will grow 19% year-on-year to 87.9 billion yuan, and adjusted EBIT is expected to increase by 196% to 9.4 billion yuan.
Lyon: Maintains MEITUAN-W (03690) "Outperform Market" rating with a Target Price of 217 HKD.
Lyon expects that with the expansion of Meituan's rapid warehouse and the cross-selling of the "God Member" membership plan, instant retail and in-store business will maintain strong growth.
Can the AI boom driven by Baidu's open-source large models and Tencent's chip purchases in the Hong Kong stock market continue?
① How does Baidu's strategy of freely opening up and planning to open source large models affect its long-term competitiveness in cloud business and ad monetization? ② Tencent's increased procurement of H20 chips to support the implementation of large models, does it mean that the domestic computing power infrastructure still highly relies on overseas supply chains?
How to grasp the main line in a volatile market? Technology and Consumer dual-driven may be key.
Yesterday, the market fluctuated throughout the day, with a single-day transaction volume shrinking by over 200 billion. After experiencing last Friday's significant rise in volume, the Index's decline in volume and retracement is also reasonable, and the subsequent view will still lean towards a fluctuating upward structure.
Meituan: The search volume for "low-altitude flower appreciation" has increased by 645%, and the group buying Orders for the "spring" theme have more than doubled.
Xinhua Technology reported on the afternoon of March 17 that Meituan Travel released the "2025 National Top Ten Spring Outing New Plays," among which over half are mixed formats, with the central and western regions performing impressively. Meanwhile, traditional flower viewing has also seen innovation, and in March, the search volume for "flower viewing and spring outings" on Meituan increased by more than 167% week-on-week, with high search popularity related to "cuisine," "low-altitude flights," and "intangible cultural heritage." Under the influence of "Cultural Tourism + Various Industries" and "Various Industries + Cultural Tourism," different regions have launched new experiences through online and offline multi-industry integration, bringing new enjoyment to consumers while also stimulating new growth points for the spring economy. Meituan Travel aggregates online users.
The market rebound has opened a new pattern, with Consumer finance taking turns to make efforts, and Technology stocks may face a restorative opportunity.
Last Friday, the market saw a significant rebound in trading volume, with the Shanghai Composite Index climbing back above 3400 points. After experiencing violent fluctuations in the middle of last week, the market again showed signs of breaking upwards. Although this does not mean that a new round of index-driven market movements will immediately begin, it fundamentally alleviates the concerns over the previous breakdowns, and the subsequent view should still be focused on a structure of oscillation upwards.
Raymond Chang : are you shorting 3690