Meituan (HKG:3690) has an average rating of overweight and mean price target of HK$109.46, according to analysts polled by FactSet.
What else is happening in Asia?
Asia
Tata Motors Passenger Vehicles' Total Sales Rise 42% in May
Tata Motors Passenger Vehicles' (NSE:TMPV, BOM:500570) total sales rose 42% to 59,790 units in May, against 42,040 units sold a year ago, according to a Monday filing to the Indian bourses.Total domestic sales in May also grew 42% to 59,090 units from 41,557 units a year earlier, the filing said.Of the total, electric vehicle sales jumped 85% year-on-year to 10,517 units from 5,685 units.
BOM:500570NSE:TMPV
Asia
Dian Tou Energy Acquires Baiyinhua Coal & Power for 11.1 Billion Yuan; Shares Down 4%
Inner Mongolia Dian Tou Energy (SHE:002128) fully acquired Baiyinhua Coal & Power for 11.1 billion yuan, according to a Tuesday disclosure on the Shenzhen bourse.The acquisition was made through share placement and capital injection.The company raised 4.50 billion yuan as part of the acquisition funds.The Chinese coal products maker's shares dropped 4% during the morning trade.
SHE:002128
Asia
Formosa Pharmaceuticals Gets Taiwan's Health Ministry for Pain Relief Drug; Shares Rise 3%
Formosa Pharmaceuticals (TPE:6838) received approval from Taiwan's Ministry of Health and Welfare for a drug to treat inflammation and pain following ocular surgery, according to a Monday Taiwan Exchange filing.Shares gained about 3% in Tuesday's late morning trade.The drug dubbed APP13007, is marketed as BYQLOVI Ophthalmic Suspension 0.05%.Financial details and accumulated development costs were not disclosed.
TPE:6838