SPDB Sticks to Its Buy Rating for Meituan (MPNGF)

SPDB analyst maintained a Buy rating on Meituan yesterday and set a price target of HK$120.00. The company’s shares closed yesterday at HK$96.50.

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Currently, the analyst consensus on Meituan is a Moderate Buy with an average price target of $16.29, which is a -83.12% downside from current levels. In a report released on December 1, CMB International Securities also maintained a Buy rating on the stock with a HK$141.00 price target.

Based on Meituan’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$91.84 billion and a net profit of HK$365.3 million. In comparison, last year the company earned a revenue of HK$82.25 billion and had a net profit of HK$11.35 billion