pooyan| Jefferies: Lowering Huazhu's target price to HK$42 to maintain a "Buy" rating

Jefferies issued a report statingpooyan, Huazhu's first-quarter revenue and adjusted EBITDA were in line with market expectationspooyanHowever, second-quarter revenue guidance was lower than expected and was reflected in the stock price after Friday's results. Huazhu's second-quarter revenue guidance was year-on-year growth of 7% to 11%, with the median 2.5 percent lower than market consensus expectationspooyan.5%。

The bank maintains its "Buy" rating on China Living, with its target price lowered from HK$47 to HK$42. Jeffery pointed out that during the conference call, management emphasized its high-quality growth strategy, namely strengthening the Iron Triangle brand, cultivating new brands and penetrating into low-tier cities. In addition, due to the high base last year, the average revenue per available room is expected to remain stable or decline slightly in the second quarter.