[Brokerage Focus] Citigroup maintains a "buy" rating on Meituan (03690), pointing out that its third-quarter performance is robust, with market share and profits exceeding expectations.

King's Finance | Citigroup conducted an in-depth analysis of Meituan's (03690) third-quarter performance in its latest research report. The report points out that Meituan's total revenue in the third quarter was RMB 9.36 billion, a year-on-year increase of 22%, a quarter-on-quarter increase of 13.8%, exceeding Citigroup and market expectations. Core local business revenue increased by 20.2% to RMB 6.94 billion, while new business revenue increased by 28.9% year-on-year, reaching RMB 2.42 billion. Citigroup is satisfied with Meituan's third-quarter performance, believing that its revenue and adjusted net income exceeded market expectations. Meituan's real-time transaction volume increased year-on-year.

Golden Imperial Financial News33minutes ago

[Brokerage Focus] Guosen raised Meituan's (03690) target price by 40-48%, indicating excellent profit performance in the third quarter.

Jingu Finance News | Guosen Securities released a research report, stating that Meituan (03690) achieved revenue of 93.6 billion yuan in the third quarter, a year-on-year increase of 22%. Classified by revenue type, instant delivery service/trade commissions/marketing services revenue each saw a year-on-year growth of +21%/+25%/+18% in the third quarter. Meituan achieved adjusted net income of 12.8 billion yuan in the third quarter, a year-on-year increase of 124%; the adjusted net profit margin was 14%, an increase of 7 percentage points year-on-year. Among them, the gross margin increased by approximately 4 percentage points year-on-year, benefiting from cost efficiency improvements; the R&D expense ratio decreased by 1.3 percentage points year-on-year, reflecting the operational leverage effect on personnel efficiency.

Jingu Caixun51minutes ago

[Brokerage Focus] Goldman Sachs cuts Meituan (03690) target price by 5.7%, expecting market expectations to rise.

Goldman Sachs research reports indicate that Meituan (03690) performed better than expected in the third quarter, with revenue increasing by 22% and adjusted EBIT increasing by 196% year-on-year. The adjusted EBIT for the core local business in the third quarter was leading at 14.6 billion RMB, a 44% year-on-year increase, higher than market expectations. The bank predicts that the adjusted EBIT for the core local business in the fourth quarter will increase by 46%, surpassing its previous forecast and market expectations, mainly due to better-than-expected performance in the video delivery business. Despite the strong momentum in core local business profits from the third quarter to the fourth quarter, and new business losses in the third quarter being less than expected, at 1 billion.

Jingu Financial News23:05 ET

Meituan's Food Delivery Order Volume Growth May Slow in 4Q -- Market Talk

WSJ22:44 ET

J.P. Morgan maintains Meituan-W (03690) "shareholding" rating, target price raised to HKD 200.

Morgan Stanley believes Meituan is one of the highest quality consumer and internet companies in China.

Zhitong Finance21:37 ET

Open Source Securities: The overall profit trend of Meituan-W (03690) remains upward, maintaining a "buy" rating.

Open Source Securities has raised the non-IFRS net income forecast for Meituan-W (03690) for 2024-2026 to 43.5/55.7/70.7 billion yuan.

Zhitong Finance20:34 ET