Market Insight | Meituan-W rises nearly 4% again, with a cumulative increase of over 20% post-performance. Fitch upgrades Meituan's credit rating and maintains a positive outlook
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Meituan-W's stock price rose by nearly 4% again, with a post-performance cumulative increase of over 20%, now trading at HKD 124, with a turnover of HKD 17.99 billion. Fitch Ratings has upgraded Meituan's long-term issuer rating to "BBB" with a positive outlook, reflecting improved profitability and strong free cash flow. JP Morgan predicts Meituan's adjusted earnings per share to increase by 119% in the third quarter and 95% in the fourth quarter. Citigroup expects earnings growth to outpace revenue and daily average transaction volume growth
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