Jefferies Financial released a report that due to market reset expectations for the growth prospects of Douyin, it is expected that Meituan, Alibaba, and Tencent will benefit. The report pointed out that Alibaba has been strengthening consumer experience and merchant performance through reinvestment and AI strategies, with the goal of narrowing the gap between its industry commodity turnover growth. The expected gap in industry competition may trigger potential re-evaluation of Meituan, and the rating is maintained at "buy", with the target price rising from HKD 135 to HKD 142. Tencent is the first choice in the coverage of the bank, as it believes that video accounts have great potential for development. Jefferies Financial predicts that the market share of short videos will continue to grow, but the normalizing growth trend and intensity of competition have not been as intense as the market imagines, which may bring surprises and trigger industry re-evaluation.
杰富瑞：行业竞争预期差距收窄或触发对美团潜在重评 目标价升至142港元
Jefferies Financial: Narrowing gap in industry competition expectations may trigger potential reassessment of Meituan, target price raised to HKD 142.
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