Citigroup, Credit Suisse raised forecast of Meituan’s revenue on faster-than expected recovery

china meituan

Citigroup raised the forecast of Chinese on-demand service giant Meituan’s food delivery revenue and operating profit in Q2 by 2.4% and 11.7%, respectively, taking into account the reopening of restaurants in China, robust demand during Father’s Day and Dragon Boat festival, disciplined subsidies and cost optimization effort, according to a note on Monday.