Missfresh (MF) Initiated with a Buy at Needham

In a report released today, Vincent Yu from Needham initiated coverage with a Buy rating on Missfresh (MFResearch Report) and a price target of $12.00. The company’s shares closed last Wednesday at $7.99.

According to TipRanks.com, Yu is a 4-star analyst with an average return of 15.7% and a 37.9% success rate. Yu covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, China Online Education Group, and So-Young International.

Missfresh has an analyst consensus of Moderate Buy, with a price target consensus of $12.00.

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Missfresh Ltd an online-and-offline integrated on-demand retail business offering fresh produce and fast-moving consumer goods. Through its “Missfresh” mobile application and Mini Program embedded in third-party social platforms, which feature substantially similar user interface and functions, consumers can purchase grocery at their fingertips and receive products delivered by its delivery riders to their doorstep.