《大行报告》麦格理:市场若续降美团(03690.HK)估值 料股价或於220至230元有支持
麦格理发表报告,市场担心美团(03690.HK)可能面临监管及行业竞争的压力,该股昨日(10日)股价下挫7%,因不利的新闻消息持续增加,而投资者亦关注美团首席执行官王兴早前於社交平台言论事件。
该行表示,按该行数个情景分析显示,若市场续下调对美团的估值预测,料美团股价下一个支撑位可能在220至230元,但同时指国家市监局对公司反垄断的调查尚未得到解决,在不确定性因素持续下,估计将会利淡美团股价。
麦格理表示,较高估值的股份一旦面临风险挑战是,即使估值由预测市盈率60倍下滑33%,其估值高达预测市盈率40倍仍属昂贵,投资者将会关注股份何时才会完成调整、何时才可再介入,而该行目前对美团的目标价316元维持预测不变(予「中性」投资评级)。
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