Morgan Stanley: Meituan's short-term profit margins are expected to be under pressure, and expansion in Brazil may lead to increased losses in new businesses
Morgan Stanley stated that it is confident in Meituan's long-term moat in the food delivery sector, but it expects short-term profit margins to face pressure, especially as new initiatives such as expansion in Brazil will lead to increased losses. The firm also lowered the company's target price. Morgan Stanley has reduced Meituan's target price from HKD 200 to HKD 160, maintaining an overweight rating
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