Nomura: Reiterates a "buy" rating on Meituan-W, with target price raised to HK$224.
Nomura's research report stated that it raised the target price of Meituan-W (03690) from HK$151 to HK$224, reiterating a "buy" rating, believing that the company's profit outlook is strong, benefiting from the improved competitive environment of food delivery and on-premises services, as well as sufficient supply of delivery riders helping to alleviate the rising delivery costs pressure. The bank expects Meituan's third-quarter revenue to increase by 20% year-on-year, in line with market expectations; non-GAAP net profit is expected to increase by 111% year-on-year, 3% higher than market expectations, mainly due to the improved profitability of the core business. Furthermore, the core local business operation profit is expected to increase by 37% year-on-year, driven by revenue growth.
[Brokerage Focus] Sealand Securities maintains a "buy" rating on Meituan (03690), bullish on the company's core barriers in the instant delivery sector in the long term.
Jingu Financial News | Sealand Securities issued a research report, forecasting that Meituan (03690) will achieve total revenue of 92.1 billion yuan in 2024Q3 (YoY +20.5%, QoQ +12%); core local business revenue of 68.7 billion yuan (YoY +19%, QoQ +13%), with dining delivery business expected revenue of 45.9 billion yuan (YoY +15%, QoQ +13%), operating profit margin of 17.8% (YoY +2.9pct); flash purchase business expected revenue of 6.7 billion yuan (YoY +42%), operating profit margin of 0.3% (YoY +2.4pct); in-store wine
Citi: Maintains a "buy" rating for Meituan-W (03690) with a target price of HK$192.
According to Citigroup's estimate, Meituan's third-quarter adjusted net profit was 13.8 billion yuan; total revenue increased by 20% year-on-year to 91.9 billion yuan.
Meituan Poised for Stronger 3Q Earnings -- Market Talk
Trending Stocks Today: CHI KINGSTONE Soars 307.69%
Hong Kong stock market midday report| Hang Seng Index rose 1.67% in early trading, with the photovoltaic sector showing strength.
The US may partially revoke the anti-dumping and anti-subsidy measures on photovoltaic products, and photovoltaic stocks rose across the board in early trading.
