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<Research>M Stanley Expects MEITU (01357.HK) to Further Deepen Co-op with BABA-W w/ TP $15.7 & Rating Overweight
Recommend 29 Positive 60 Negative 26 |
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MEITU (01357.HK) recently announced the completion of issuing convertible bonds worth US$250 million to BABA-W (09988.HK), according to Morgan Stanley's research report. If all convertible bonds are fully converted, BABA-W will hold 6.82% of MEITU's shares, becoming its third-largest shareholder. The broker considered this development as positive news, and anticipated that MEITU's cooperation with BABA-W will further deepen, especially in the field of e-commerce design, where strong synergies can be generated. Therefore, Morgan Stanley now rated MEITU at Overweight, with a target price of $15.7. AAStocks Financial News Website: www.aastocks.com |
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