Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi Raises MEITUAN-W (03690.HK) TP to HKD113; CLC Expected to Return to Profit in 2Q
Recommend 10 Positive 19 Negative 6 |
||||
|
||||
|
MEITUAN-W (03690.HK) delivered 1Q26 results beat on an improved competitive landscape and more rational subsidy spending, alongside seasonal tailwinds, Citi said in its report. Management expects unit economics (UE) per food delivery order to return to breakeven in 2Q26. With in-store margins remaining stable, Core Local Commerce (CLC) is expected to return to profitability in 2Q26, earlier than the broker previously anticipated. However, Citi noted that management remains cautious on the earnings trend for 2H26, mainly due to a high base effect last year that may lead to negative order growth, while the competitive landscape could remain dynamic. After revising its forecasts, Citi raised the TP for MEITUAN-W from HKD110 to HKD113 and maintained a Buy rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
