Citigroup: Meituan-W enters the Pan-Asian key stock list with a target price of HKD 217

Citi released a research report stating that it has included Meituan-W in its Pan-Asia Focus Stocks list, noting that the company's expansion in the Saudi market has achieved initial success, which is expected to enhance the momentum of overseas business development and support rapid revenue growth. It maintains a "Buy" rating and sets a target price of HKD 217. Citi expressed optimism about Meituan's artificial intelligence strategy, believing that with its drone delivery plan and robot investments, Meituan can maintain its position as an advanced technology-based local life service platform. In the context of the trade war, Meituan is relatively less affected by external challenges compared to other companies, does not face the risk of ADR delisting, and its business revenue does not rely on the U.S. market