0548 GMT - Meituan retains its bull at DBS Group Research thanks to its market-leading position in food delivery and early traction in overseas markets. That is despite near-term earnings pressure for the Chinese food-delivery platform, the analysts say in a note. Its guidance for core local commerce revenue to be flat or decline slightly in 1Q was also in line with DBS's expectations. The company expects narrower losses from its new initiatives segment, thanks to better unit economics in Saudi Arabia, the analysts note. Meituan shares could rise if Chinese regulators issue clearer directions for ending the subsidy war in the food-delivery industry, they add. DBS keeps its buy rating on Meituan and is reviewing its HK$130.00 target price. Shares rise 1.5% to HK$88.025. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 27, 2026 01:49 ET (05:49 GMT)

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