Meituan sets its sights on small businesses like nail salons.
Explore the potential of the industry chain.
The investment rating of the bank: Morgan Stanley holds a relatively optimistic view on Meituan's core profitability and sets a target price of HKD 120.
Morgan Stanley released a report stating that considering the improvement of economic benefits for food delivery units and the recovery of in-store profits due to stable competition, they hold a relatively optimistic view of Meituan's core profitability and maintain a "synchronized with the market" rating. The target price is HKD 120. Barclays expects Meituan's Q2 local core business revenue to reach CNY 60.5 billion, an increase of 18% year-on-year; operating profit is CNY 12.8 billion, an increase of 15% year-on-year. Due to the continued narrowing of losses from new businesses, total revenue is expected to be CNY 81.3 billion, a year-on-year increase of 19.7%, with operating profit of CNY 10.8 billion under non-international financial reporting standards.
Meituan Likely to Deliver Solid 2Q Results -- Market Talk
Citigroup: Maintains a "buy" rating on Meituan-W (03690) with a target price of HKD 140.
Citigroup predicts that Meituan-W (03690) will achieve a quarterly revenue of 80.2 billion RMB, an increase of 18% year-on-year.
South-North Water | Record high! Foreign capital bought nearly 20 billion A-shares, and the southbound capital added more than 2.1 billion to Tencent's position.
Northbound funds significantly net bought A shares for 19.58 billion yuan, while southbound funds net bought Hong Kong stocks for 2.291 billion Hong Kong dollars.
Brokerage Focus: Guoyuan International believes that the internet plus-related industry still has investment value and recommends Tencent (00700) and Meituan (03690).
Jingwu Finance News | Guoyuan International Internet Industry Weekly Report pointed out that overall, due to the current stage of China's economic and consumer recovery, some Internet companies may face risks of slowing performance growth or falling short of expectations as the mid-term disclosure period approaches. However, as Hong Kong stocks have undergone tactical outflows of overseas capital and valuations have shown significant repair, the improvement of Internet companies' fundamentals under macroeconomic pressures is limited. But with the current Internet companies' general buybacks and relatively low valuations, coupled with the continuous landing of policies and the gradual transformation of business efficiency by AI technology, the industry as a whole still has investment value.
