Meituan-W (03690) rose more than 3%, as of the time of writing, up 3%, and was trading at HK$185.6, with a turnover of 10.567 billion HK dollars.
According to the Securities Times app, Meituan-W (03690) rose more than 3%, up 3% as of the time of writing, closing at HK$185.6, with a turnover of 10.567 billion HK dollars.
On the news side, according to China Economic News Daily, today on Meituan's overseas platform Keeta, it was discovered that Keeta will officially launch in Riyadh, the capital of Saudi Arabia, at 11:00 local time today. Keeta shows that users in Riyadh can enjoy first-order discounts and unlimited free delivery today.
Daiwa's research report pointed out that Meituan's food delivery and local service businesses should benefit from the recovery in consumer spending, and its recent outperformance in the stock market has led to a higher valuation than its peers. The firm reiterated a 'buy' rating on the company, with the target price raised from HK$160 to HK$235. Daiwa raised its revenue forecast for Meituan from next year to 2026 by 2% and, taking into account operating leverage, also raised its earnings per share forecast for Meituan from next year to 2026 by 3% to 5%.