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<Research>CLSA Lifts MEITU's TP to HKD14.1, Rating Outperform
Recommend 38 Positive 71 Negative 36 |
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MEITU (01357.HK) has issued a positive profit alert expecting its adjusted net profit for 1H25 to grow by 65-72% YoY, according to CLSA's research report. The company's total revenue is also projected to increase by 25% YoY to RMB2 billion, while its adjusted net profit is estimated to surge by 68% YoY to RMB458 million. In light of the company's accelerated growth of paid users, robust growth in overseas markets, expansion of productivity tools, improved gross margins, and stronger operating leverage, CLSA raised its target price for MEITU from HKD7.8 to HKD14.1 and kept the Outperform rating unchanged. In addition, the broker lifted its 2025-26 forecasts for MEITU's adjusted net profit by 15% and 20% respectively, given that the company was benefiting from gross margin expansion driven by increased contributions from PVD revenue, reduced cloud service costs from collaboration with BABA-W (09988.HK), and improved operating leverage. AAStocks Financial News |
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