Meituan's Food Delivery Order Volume Growth May Slow in 4Q -- Market Talk

Dow Jones12-02

0344 GMT - Meituan's volume growth is likely to be hurt by macro headwinds, according to Nomura analysts Jialong Shi and Rachel Guo in a research note. The analysts note that Meituan has experienced a slowdown in order volume growth since November. While the management noted that unusually warmer weather may hurt the demand, Nomura reckons that a weaker economy and the high jobless rate may have added to the pressure, they say. The analysts expect food delivery order volumes will grow 9% year-on-year in 4Q, slowing from 11%-12% growth in the preceding two quarters. The analysts maintain a buy rating and cut the target price to HK$212.00 from HK$224.00. Shares are 4.5% lower at HK$161.20. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

December 01, 2024 22:44 ET (03:44 GMT)

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The analysts expect food delivery order volumes will grow 9% year-on-year in 4Q, slowing from 11%-12% growth in the preceding two quarters. The analysts maintain a buy rating and cut the target price to HK$212.00 from HK$224.00. Shares are 4.5% lower at HK$161.20. 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The analysts note that Meituan has experienced a...</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":"LU1105468828.SGD","symbol_name":"Allianz Total Return Asian Equity AM DIS H2-SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2488100406","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488100406","pubTimestamp":1733111040,"columns":[],"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":"0344 GMT - Meituan's volume growth is likely to be hurt by macro headwinds, according to Nomura analysts Jialong Shi and Rachel Guo in a research note. The analysts note that Meituan has experienced a slowdown in order volume growth since November. While the management noted that unusually warmer weather may hurt the demand, Nomura reckons that a weaker economy and the high jobless rate may have added to the pressure, they say. The analysts expect food delivery order volumes will grow 9% year-on-year in 4Q, slowing from 11%-12% growth in the preceding two quarters. The analysts maintain a buy rating and cut the target price to HK$212.00 from HK$224.00. Shares are 4.5% lower at HK$161.20. 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The analysts note that Meituan has experienced a slowdown in order volume growth since November. While the management noted that unusually warmer weather may hurt the demand, Nomura reckons that a weaker economy and the high jobless rate may have added to the pressure, they say. The analysts expect food delivery order volumes will grow 9% year-on-year in 4Q, slowing from 11%-12% growth in the preceding two quarters. The analysts maintain a buy rating and cut the target price to HK$212.00 from HK$224.00. Shares are 4.5% lower at HK$161.20. 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