Market Insight | Meituan-W rises more than 3%, Keeta will launch in the capital of Saudi Arabia today, Daiwa raises company earnings forecast and target price
Meituan-W rose more than 3%, as of the time of publication, it rose by 3% to HKD 185.6, with a turnover of HKD 10.567 billion. On the news front, according to a report by the Economic Daily News, it was discovered today on Meituan's overseas version Keeta that Keeta will officially launch in the Saudi Arabian capital Riyadh at 11:00 local time today. Keeta indicates that users placing their first order in Riyadh today will enjoy a 50% discount and unlimited free delivery. Daiwa Research report pointed out that Meituan's food delivery and local services business should benefit from the consumption recovery, and its recent outperformance in the stock market has led to a higher valuation compared to its peers. The firm reiterated a "buy" rating on the company, raising the target price from HKD 160 to HKD 235. Daiwa raised Meituan's revenue forecast for next year to 2026 by 2%, considering operating leverage, and also raised its earnings per share forecast for Meituan from next year to 2026 by 3% to 5%
According to the information from Zhitong Finance and Economics APP, Meituan-W (03690) rose more than 3%, as of the time of publication, it rose by 3% to HKD 185.6, with a turnover of HKD 10.567 billion.
On the news front, as reported by Daily Economic News, it was discovered today on Meituan's overseas version Keeta that Keeta will officially launch in Riyadh, the capital of Saudi Arabia, at 11:00 local time today. Keeta indicated that users placing their first order in Riyadh today will enjoy a 50% discount and unlimited free delivery.
Daiwa Research Report pointed out that Meituan's food delivery and local services business are expected to benefit from the consumption recovery, and its recent outperformance in stock price has led to a higher valuation compared to its peers. The firm reiterated a "buy" rating on the company, raising the target price from HKD 160 to HKD 235. Daiwa raised Meituan's revenue forecast for next year to 2026 by 2%, and considering operating leverage, also increased its earnings per share forecast for Meituan for the years 2022 to 2026 by 3% to 5%