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《大行报告》大和下调美团-W(03690.HK)目标价至250元 评级「买入」
大和发表报告指,美团-W(03690.HK)第三季盈利表现超出预期,主要是由于外送业务经营利润率向好,以及新业务的亏损低于预期。 虽然该行认为,在内地现行「清零方针」下,除非防疫措施有所放宽,否则外送业务订单量未来将继续受压。但大和亦预计单位经济效益将进一步改善,推动外送业务利润率可于今年第四季录得按年增长。 对于腾讯(00700.HK)宣布将向股东实物分派所持有的约9.6亿股美团B类股份,大和指出可能对美团造成短期抛售压力,但仍然建议投资者在股价疲软时适量吸纳。 基于疫情影响,大和将美团2022至2024年收入预测下调2%,下调目标价由300元降至250元,重申「买入」评级。
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