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DJ Meituan Appears Poised to Report Solid 4Q Results -- Market Talk

· 02/08/2021 01:01

0601 GMT - Meituan is likely to deliver solid 4Q results, driven by a growing food-delivery business and continued recovery of in-store services, Citi says. With Meituan set to release the results in the coming weeks, the U.S. bank expects the market to focus on the operating metrics of Meituan's grocery-shopping business, which has helped powered the stock's year-to-date rally of more than 30%. Citi keeps a buy rating and raises its target price to HK$495.00 from HK$336.00 to factor in a higher valuation of the grocery business. Shares rise 1.7% to HK$408.80. (martin.mou@wsj.com)

(END) Dow Jones Newswires

February 08, 2021 01:01 ET (06:01 GMT)

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