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MEITUAN-W (03690.HK) Once Hikes 7%; CITIC Securities Highlights Marked Shr Recovery Recently
Recommend 21 Positive 46 Negative 22 |
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MEITUAN-W (03690.HK) opened 1.83% higher today and once peaked at $117.2, hiking 7%. It trades now at $116.9, lifting 6.76%, with volume of 15.0526 million shares, involving $1.719 billion. CITIC Securities commented in a report that it expected the growth rate of MEITUAN's instant delivery order volume to be stable in 1Q24, with the in-store business maintaining a high level of investment and consolidating its share. Under the improved external competitive environment, the company's share price has recently recovered significantly, which is in line with the broker's previous judgement, as the consumer internet sector has both recovery expectations and growth attributes. MEITUAN is still highly preferred by CITIC Securities. The broker maintained its Buy rating on the company, with a target price of $126. AAStocks Financial News |
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