---
title: "CITIC International: Upgraded Meituan-W rating to \"Buy\" with target price raised to HKD 110"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288506302.md"
description: "Bank of China International released a research report stating that Meituan-W's total revenue in the first quarter increased by 6% year-on-year to RMB 91 billion (same below), in line with market expectations. Benefiting from better-than-expected unit economics (UE) in the takeaway business, it is expected that the improvement trend in takeaway UE will continue in the coming months, driving a recorded operating profit of RMB 3.6 billion in the second quarter. The bank upgraded Meituan's rating from \"Hold\" to \"Buy,\" raising the target price from HKD 100 to HKD 110 based on the sum-of-the-parts (SOTP) valuation method. Although the short-term competitive situation remains unclear, Meituan possesses solid core advantages in supply chain, fulfillment, and operations, allowing it to better balance market share and UE performance through a diversified instant delivery model and cross-selling. Meanwhile, as artificial intelligence (AI) accelerates the empowerment of core businesses, it will further release long-term efficiencies. Bank of China International predicts that Meituan's revenue in the second quarter will accelerate growth, increasing by 11% year-on-year to RMB 102.1 billion, with core local business and new business revenues expected to grow by 6% and 23% year-on-year, respectively"
datetime: "2026-06-03T02:30:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288506302.md)
  - [en](https://longbridge.com/en/news/288506302.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288506302.md)
---

# CITIC International: Upgraded Meituan-W rating to "Buy" with target price raised to HKD 110

According to the Zhitong Finance APP, BOC International released a research report stating that Meituan-W (03690) achieved a total revenue of RMB 91 billion in the first quarter, a year-on-year increase of 6%, in line with market expectations. Benefiting from better-than-expected improvements in the unit economics (UE) of the takeaway business, it is anticipated that the trend of improving takeaway UE will continue in the coming months, driving an operating profit of RMB 3.6 billion in the second quarter. The firm upgraded Meituan's rating from "Hold" to "Buy," raising the target price from HKD 100 to HKD 110 based on the sum-of-the-parts (SOTP) valuation method.

Although the short-term competitive situation remains unclear, Meituan possesses solid core advantages in supply chain, fulfillment, and operations. Through a diversified instant delivery model and cross-selling, it can better balance market share and UE performance. Meanwhile, as artificial intelligence (AI) accelerates the empowerment of core businesses, it will further release long-term efficiencies. BOC International predicts that Meituan's revenue will accelerate growth in the second quarter, increasing by 11% year-on-year to RMB 102.1 billion, with core local business and new business revenues expected to grow by 6% and 23% year-on-year, respectively

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