Barclays analyst Jiong Shao lowered the firm’s price target on Meituan (MPNGF) to $15 from $16 and keeps an Underweight rating on the shares. The company’s Q1 results were ahead of expectations, with “especially strong beats” in margins and profits, the analyst tells investors in a research note. However, the firm says intensifying competition and renewed regulatory scrutiny are creating overhang on the shares.
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