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<Research>UBS Revises 2025 Profit Forecast for MEITUAN-W (03690.HK), Chops TP to $232
Recommend 11 Positive 23 Negative 5 |
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MEITUAN-W (03690.HK)'s 4Q24 revenue rose 20% YoY, slightly beating estimation, while its adjusted operating profit was 13% higher than expected, supported by solid core local commerce margin, UBS said. However, its adjusted net profit was only in line with forecast, impacted by higher interest and tax expenses. UBS adjusted its 2025 adjusted net profit forecast for MEITUAN-W to RMB46.5 billion, compared with the market consensus of RMB55 billion. The broker chopped its target price from $270 to $232, with rating kept at Buy. AAStocks Financial News |
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