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<Research>Jefferies: MEITUAN-W (03690.HK) Core Local Commerce Fundamentals Improving; Rating Buy
Recommend 5 Positive 10 Negative 7 |
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MEITUAN-W (03690.HK)'s 4Q25 total revenue increased by 4.1% YoY to RMB92.1 billion, in line with the expectations of both Jefferies and the market, Jefferies issued a research report saying. Core local commerce (CLC) revenue declined by 1% YoY to RMB64.8 billion, slightly below the market consensus of flat YoY and the broker's expected 1.3% drop. Jefferies noted that MEITUAN-W's CLC fundamentals improved and new businesses are on track. Therefore, the broker kept rating at Buy for MEITUAN-W, with a target price of $130. AASTOCKS Financial News Website: www.aastocks.com |
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