STOCKS | Meituan Q2 Revenue Beats Estimates as Several Firms Raise Price Targets

Meituan's strong revenue performance beat expectations, and several brokerages raised their price targets based on the resilience of its core food delivery business. According to Sina Finance, JPMorgan, with an overweight rating, raised its target price to HK$100 from HK$85; Citi, with a buy rating, raised its target price to HK$120 from HK$113; and Bernstein said Meituan remains focused on market share after a period of intense competition.