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<Research>UBS: MEITUAN-W's ST Profit Uncertain, but Moat Remains Strong
Recommend 20 Positive 33 Negative 10 |
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UBS conducted a non-deal roadshow (NDR) with MEITUAN-W (03690.HK) Head of Capital Markets Scarlett Xu and the investor relations team. After the meeting, although the broker acknowledged the uncertainty in the company's short-term profit amidst the evolving competitive landscape, it remained long-term constructive in Meituan's strong moat, solid consumer mindshare, and its differentiated supply-side innovations (such as Raccoon Kitchen and Instashopping). The overseas business initiative "KeeTa" is also seen as a potential upside factor not yet reflected in the stock price. UBS rated Meituan Buy with a target price of HKD128. AASTOCKS Financial News Website: www.aastocks.com |
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