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<Research>Nomura Keeps Neutral on MEITUAN-W, Foresees Short-term Shr Price Struggle
Recommend 12 Positive 15 Negative 9 |
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MEITUAN-W (03690.HK) has recently issued a profit warning, forecasting a shift from profit to a net loss of RMB23.3-24.3 billion for FY25, implying a net loss of around RMB15-16 billion for 4Q25, slightly worse than the market's expected loss of about RMB14.7 billion, according to a report from Nomura. The primary reasons cited for this shift are intensified competition in the local life services sector and the company's investments in overseas markets. The report also highlighted that MEITUAN-W's stock price significantly underperformed the market over the past year with a cumulative decline of 51.7%, compared to a rise of about 17.5% in the HSI during the same period. Considering the strong competition faced by all core businesses, Nomura believes MEITUAN-W's stock price will struggle to rebound in the short term. It has given the company a Neutral rating and a target price of HKD107. AAStocks Financial News |
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