Reported 8 months ago
After a significant turnaround leading to it becoming one of the best-performing tech stocks in China, Meituan is expected to see further gains due to reduced competition and improved profitability. Analysts project a 17% increase in shares over the next year, driven by record earnings and cost-cutting measures. The company's success in Hong Kong and overseas expansion plans are contributing to the positive outlook, with rivals like Douyin and Alibaba appearing to pull back on competing for market share, leading to a favorable valuation re-rating. Meituan's shares have surged over 90% from a low in late January, with sell-side analysts increasing price targets and predicting all-time high profits in the next 12 months.
Source: YAHOO