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<Research>Daiwa Trims MEITUAN-W (03690.HK) TP to $170, Reaffirms Buy Rating
Recommend 40 Positive 76 Negative 25 |
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Despite the market's negative expectations regarding the profitability of MEITUAN-W (03690.HK)'s food delivery business, the scale of loss in 2Q25 and the group's outlook for 2H25 may still exert pressure on short-term market sentiment, a report by Daiwa wrote. Although there are initial signs that excessive competition may be easing, the broker viewed that investments in 2H25 seem inevitable to maintain market leadership. The broker lowered its EPS forecast for MEITUAN-W for 2026-27 by 33-63%, reaffirming its Buy rating but reducing the target price from HKD200 to HKD170. AASTOCKS Financial News Website: www.aastocks.com |
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