On June 12, Gelonhui | Meituan (3690.HK) announced after yesterday's (11th) closing that it plans to occasionally repurchase up to US$2 billion of Class B ordinary shares on the open market. Furi's report pointed out that the news of Meituan's increased repurchase is positive, reflecting confidence in the company's prospects and creating value for shareholders. It maintains a "buy" rating with a target price of HKD 135. Furi stated that although facing uncertainties in the macro environment, Meituan still demonstrates strong execution in multiple business divisions. The core business operating profit growth is solid, the profit per order of the takeout business is improving, and the growth theme of in-store and travel continues, which improves the overall fundamentals of the group and maintains a "buy" rating.
大行评级丨富瑞：美团加码回购反映信心，维持买入评级，目标价135港
Major bank rating | Furui: Meituan's increased repurchase reflects confidence, maintains a buy rating with a target price of HKD 135.
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