Meituan-W (03690.HK) will announce its third-quarter results for this year in late November. Benefiting from the demand for in-store, hotel, and travel services, as well as flash purchase needs, the reduction of losses in new businesses (brokerage estimates related businesses' losses will decrease from over 5.1 billion to nearly 1.8 billion yuan during this period compared to the same period last year) and improved competition in the in-store business, a comprehensive forecast from nine brokerages shows that Meituan's non-GAAP adjusted profit for the third quarter of 2024 is expected to range from 11.01 billion to 13.768 billion yuan, representing an increase of 92.2% to 140.4% compared to 5.727 billion yuan in the same period of 2023, with a median of 12.684 billion yuan, an annual growth of 1.21 times.

Investors will pay attention to the latest operational and strategic guidance provided by Meituan's management, including preferred operational trends, the expansion of self-operated Little Elephant Supermarket, operational leverage (unit economic benefits), gross margin, plans and progress for entering overseas markets, and share repurchase plans, among others.

The following table lists the ratings and target prices (in HKD) given to Meituan-W (03690.HK) by 14 brokerages:

Brokerage | Investment Rating | Target Price

Huatai Securities│Buy│235.6 HKD

Daiwa│Buy│235 HKD

bocom intl│Buy│228 HKD

Citi│Outperform│225 HKD

Nomura │ Buy │ 224 yuan

Bank of America Securities │ Buy │ 220 yuan

Morgan Stanley │ Shareholding │ 215 yuan

Goldman Sachs │ Buy │ 212 yuan

Citigroup │ Buy │ 192 yuan

Bocom Intl │ Outperform the market │ 176.1 yuan

HSBC Global Research │ Buy │ 170 yuan

UBS Group │ Buy │ 158 yuan

Credit Suisse │ Buy │ 142 yuan

DahuajieXian recommends buying at a price of 130 yuan.