Citigroup: Maintains "buy" rating for Meituan-W with a target price raised to HKD 203.

Citi released a research report stating that it maintains a "buy" rating for Meituan-W (03690), with the target price raised from 192 HKD to 203 HKD. The report mentioned that Meituan's performance in the third quarter of the fiscal year 2024 is robust, with total revenue rising 22% year-on-year, which is 1.7% higher than market expectations; adjusted net income increased by 124% year-on-year, which is 9.8% higher than market expectations. This performance was mainly supported by the better-than-expected growth in core local business operating profit and other factors. Looking ahead to the fourth quarter, the latest stimulus measures from the central government may support consumer demand. The bank also believes that Meituan's strong execution of product and operational strategies and ongoing innovation will contribute positively.

Sina Hong Kong stocks02:00 ET

As "transition finance" becomes a trend on Wall Street, jpmorgan remains reluctant to embrace it.

JPMorgan still has doubts about a trend embraced by many Wall Street peers. "Transition finance" exists in a regulatory gray area, describing the allocation of capital to activities that ultimately help reduce carbon emissions in the broader economy. Financing for decarbonizing businesses is also seen as a massive business area, with Apollo Global Management Inc. recently mentioning that energy transition could bring about $50 trillion in investment opportunities over the next few decades. Against this backdrop, some large banks on Wall Street are

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