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<Research>Nomura Slashes MEITUAN-W (03690.HK) TP to $123, Expects Competition with Alibaba to Peak This Season
Recommend 26 Positive 47 Negative 30 |
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BABA-W (09988.HK)(BABA.US) aimed to reduce its loss per order for its external businesses by 50% within the next two months, suggesting that the competition between BABA-W and MEITUAN-W (03690.HK) may peak this summer, i.e. 3Q25, according to Nomura's research report. The broker anticipated that MEITUAN-W's 4Q25 food delivery business loss will narrow to RMB5.1 billion, with a LPS of RMB0.77. Meituan Dianping will remain the largest food delivery company in China, but its dominance may weaken. Therefore, Nomura slashed its target price for MEITUAN-W from $176 to $123, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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