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<Research>Nomura Chops MEITUAN-W (03690.HK) TP to $92 as Competitive Landscape Remains Unclear
Recommend 10 Positive 8 Negative 11 |
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Nomura released a research report updating its forecasts for MEITUAN-W (03690.HK). The broker believed that the recovery path remains volatile, and chopped its target price from $107 to $92, with rating kept at Neutral. Nomura expected the operating loss of the food delivery business to narrow by over 40% QoQ to RMB7.2 billion in 1Q26, with a loss per order of RMB1.3, compared to a loss per order of RMB1.94 in 4Q25. Although Chinese authorities recently hinted at opposing 'involution,' the actual implementation measures remain to be seen, the broker added. Nomura anticipated that Alibaba's subsidy budget will continue to impact the competitive landscape and the recovery pace of MEITUAN-W's food delivery business in the short term. AASTOCKS Financial News Website: www.aastocks.com |
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