CMB International Securities analyst Saiyi He maintained a Buy rating on Meituan today and set a price target of HK$141.10.
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Saiyi He has given his Buy rating due to a combination of factors tied to both operations and industry dynamics. He views the core local commerce segment as having reached an earnings trough, supported by healthier regulatory direction in food delivery and a shift by in-store competitors toward their strongest categories, which should ease the most aggressive phase of competition and allow Meituan to better manage subsidies and narrow losses.
At the same time, He highlights Meituan’s solid consumer mindshare in higher-value delivery orders and its structural efficiency advantages, which underpin resilient unit economics versus peers. He also points to accelerating revenue from new initiatives, where upfront investments are expected to roll off and losses should shrink in 2026, while his DCF-based target price remains essentially unchanged, signaling intact long-term value and justifying a continued Buy stance.
He covers the Communication Services sector, focusing on stocks such as Iqiyi, Baidu, and Meta Platforms. According to TipRanks, He has an average return of 7.5% and a 47.78% success rate on recommended stocks.
In another report released today, DBS also maintained a Buy rating on the stock with a HK$130.00 price target.