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<Research>CICC: MEITUAN-W (03690.HK) Fundamentals Pass Left Side w/ LT Patience
Recommend 13 Positive 23 Negative 13 |
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CICC published a research report saying that it recently invited MEITUAN-W (03690.HK) for a non-deal roadshow, during which management shared the latest dynamics in the food delivery instant retail competition and in-store hotel and tourism business competition, as well as the development of overseas business. Recently, the focus of food delivery competition shifted to high-value users, and MEITUAN-W is confident in driving profits back to reasonable levels in the long term. CICC kept its 2025 adjusted net loss forecast for MEITUAN-W at RMB16.8 billion and 2026 adjusted net profit forecast at RMB19.6 billion, with rating at Outperform and a target price of $125, corresponding to a 15x adjusted PE ratio in 2027 and a 23% upside. The current share price corresponds to a 12x adjusted PE ratio for 2027. AASTOCKS Financial News Website: www.aastocks.com |
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