UBS: Maintains "Buy" rating on Meituan with a target price of HKD 158, citing attractiveness as an industry leader

UBS released a report stating that a better competitive landscape should bring high elasticity and visible future profit potential to Meituan, driven by GTV growth. Meituan is currently forecasted to have a P/E ratio of 13 times in 2025. The bank believes that as an industry leader, Meituan is attractive, maintaining a "buy" rating on Meituan with a target price of HKD 158. Through understanding the local service agent industry channels, the bank believes that Meituan's competition with Douyin in the offline market is stabilizing, and a more rational competitive landscape should benefit Meituan