大行評級|建銀國際:上調美團目標價至137.8港元 維持“跑贏大市”評級
建銀國際的研究報吿指,美團首季收入及經調整盈利分別按年升25%及36%至733億元及75億元,分別比市場預期高6%及29%。該行預料,公司外賣業務單位經濟效益因補貼及騎手成本降低而有所改善,主要競爭對手抖音將戰略重點轉至變現,到店、酒店及旅遊的利潤率亦會因此而趨於穩定,並預料新業務的虧損將受控。該行預期,公司在第二季度及2024全年的收入增長各為18%,而經調整盈利增長則分別為47%及71%。看好公司在穩定的管理層執行能力、本地服務在網上的滲透率及更穩定的競爭環境下,即使受到外圍環境影響,仍可錄得強勁的業績。建銀國際將公司在2024年至2026年的盈測上調29%、18%及9%,將目標價由131.6港元升至137.8港元,維持“跑贏大市”評級。
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