Goldman Sachs: Confident in Meituan-W's leadership position in local services, maintains target price of HKD 144
Goldman Sachs released a research report stating that it is confident in Meituan-W's overall leadership position in the expanded total addressable market (TAM) for instant retail and expects that delivery subsidies will gradually normalize by 2026. It maintains a target price of HKD 144 and a "Buy" rating. Additionally, the bank noted that investors' main concerns are focused on the latest delivery competition landscape and Meituan's unique positioning, competition and profit margin trends in the in-store business, growth and profitability prospects of instant retail, the expansion and investment scale of Keeta, AI strategies, and the narrowing losses of new businesses
According to the Zhitong Finance APP, Goldman Sachs released a research report stating that it is confident in Meituan-W (03690) maintaining its overall leadership position in the expanded total addressable market (TAM) for instant retail, and expects that delivery subsidies will gradually return to normal by 2026. The target price is maintained at HKD 144 with a "Buy" rating.
In addition, the bank pointed out that investors' main focus is on the latest delivery competition landscape and Meituan's unique positioning, competition and profit margin trends in the in-store business, growth and profitability prospects of instant retail, the expansion and investment scale of Keeta, AI strategies, and the narrowing losses of new businesses
