STOCKS | Brokers Cut And Raise Targets For Meituan, NetEase, Xiaomi And Others

Major brokers adjusted ratings and target prices for a range of Hong Kong-listed stocks, including Meituan (03690), NetEase (09999), Zhipu (02513), Cambricon Technologies (06809), BYD Electronic (00285), China Construction Bank (00939), Bank of China (03988), Agricultural Bank of China (01288), Industrial and Commercial Bank of China (01398), Longfor Group (00960), China Resources Land (01109), Vanke (02202), China Resources Mixc Lifestyle (01209), Zhongsheng Group (00881), Anta Sports (02020) and Shenzhou International (02313), according to ETNet. Among the latest changes, Morgan Stanley cut Meituan's target to HK$110 from HK$120 while keeping an overweight rating, and Daiwa raised NetEase's target to HK$265 from HK$260 and maintained a buy rating. JPMorgan lifted Zhipu's target to 2,000 yuan from 1,800 yuan and kept an overweight rating, while Morgan Stanley, Daiwa, Macquarie, Bernstein and HSBC also adjusted their views on the stock. Other notable moves included Citi raising Cambricon's target to 425 yuan from 305 yuan, Morgan Stanley cutting BYD Electronic's target to HK$33 from HK$39, and Citi lowering Vanke's target to HK$1.55 from HK$2.20 while keeping a sell rating.