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<Research>Nomura Trims MEITUAN-W TP to $200 Amid Increased Investment in Overseas Mkt & AI
Recommend 9 Positive 19 Negative 9 |
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Nomura released a research report on MEITUAN-W (03690.HK), which maintained robust performance in its core business in 4Q24, with revenue up 20% YoY and non-GAAP operating profit up 2.4 times, beating market expectations by 1% and 13%, respectively. The group’s new businesses, including grocery and overseas expansion, saw revenue leap 24% YoY, while losses narrowed by 55% to RMB2.2 billion. Amid increased investment in overseas markets and AI, Nomura dropped its target price on MEITUAN-W from HKD212 to HKD200, with a Buy rating. AAStocks Financial News |
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