Stocks
Meitu Shares Slide on Goldman Sachs Downgrade
Meitu shares fell by 4.2% after Goldman Sachs downgraded its rating on the stock to Neutral from Buy.
The investment bank cited fair valuation and sector de-rating as reasons for the downgrade, alongside competition and a longer timeline for AI monetization.
Goldman Sachs also reduced its price target to HK$5.1 from HK$10.8 previously, representing a 35% upside potential.
The firm noted that this upside is not compelling compared to other Buy-rated names in the Greater China Tech sector, which average a 96% upside potential.