Meituan May Report Strong 1Q Earnings, Supported by Food Deliveries -- Market Talk

Dow Jones03-26

0747 GMT - Meituan's 1Q earnings will likely be strong on expected growth in its food delivery order volume, CCB International analyst Cathy Chan says in a research note. The Chinese food-delivery company beat 4Q consensus estimates on higher than expected revenue and core commerce margin, Chan says. Meituan's 1Q earnings may be helped by strong demand during the Lunar New Year, and the likely easing of competition with TikTok's sister app Douyin, Chan adds. CCB keeps an outperform rating on the stock as it remains positive long-term, but cuts the target to HK$131.60 from HK$177.00 to reflect the weaker growth from its new businesses segment amid restructuring plans. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 26, 2024 03:47 ET (07:47 GMT)

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CCB keeps an outperform rating on the stock as it remains positive long-term, but cuts the target to HK$131.60 from HK$177.00 to reflect the weaker growth from its new businesses segment amid restructuring plans. 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The Chinese food-delivery ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03690","symbol_name":"美团-W","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2422651445","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422651445","pubTimestamp":1711439220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0747 GMT - Meituan's 1Q earnings will likely be strong on expected growth in its food delivery order volume, CCB International analyst Cathy Chan says in a research note. 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