Morgan Stanley: Expects further deepening of cooperation between MEITU (01357) and BABA-W (09988), with a target price of 15.7 Hong Kong dollars and a rating of "Overweight".
If all convertible bonds are converted, Alibaba will hold 6.82% of Meitu's shares, becoming its third largest shareholder.
Morgan Stanley released a research report stating that MEITU (01357) recently announced that it has completed the issuance of $250 million convertible bonds to BABA-W (09988). If all convertible bonds are converted, Alibaba will hold a 6.82% stake in Meitu, becoming its third largest shareholder. The bank believes that this development is positive news, expecting further deepening of cooperation between Meitu and Alibaba, particularly in the field of e-commerce design, which can generate strong synergies; the target price for Meitu is now set at HK$15.7 with a "buy" rating.
Related Articles
Bidding for Warner Bros. (WBD.US) enters a critical period, while Paramount Skydance (PSKY.US) speeds up the antitrust review process.
US Stock Market Move | Multiple departments issued letters to support the new consumption and financial consumption driving LexinFintech Holdings Ltd. Sponsored ADR Class A (LX.US) to rise by 6.04%.
Industry's First Rider Family Hospitalization Protection Implemented Meituan Upgrades Major Illness Care Plan Covering Over One Million Rider Families
Bidding for Warner Bros. (WBD.US) enters a critical period, while Paramount Skydance (PSKY.US) speeds up the antitrust review process.
US Stock Market Move | Multiple departments issued letters to support the new consumption and financial consumption driving LexinFintech Holdings Ltd. Sponsored ADR Class A (LX.US) to rise by 6.04%.
Industry's First Rider Family Hospitalization Protection Implemented Meituan Upgrades Major Illness Care Plan Covering Over One Million Rider Families
