《大行報告》花旗:美團(03690.HK)管理層重申長期以增長策略優先 維持「買入」評級
花旗發表報告表示,昨日與美團點評(03690.HK)舉行投資者會議,並圍繞多項問題包括管理哲學、食物速遞津貼、貨幣化和利潤前景、店內廣告等。
該行指,相信美團點評管理層的回應是有理據和幫助緩解投資者的擔憂,管理層亦重申其維持長遠增長的目標,多於追逐短期利潤,並會繼續投資以增加市佔率、改善服務。公司亦計劃擴張酒店業務至更低端城市,維持對管理層執行能力的信心。
花旗重申對美團點評「買入」評級及目標價108元,此按綜合方式作估值,其中食品速遞業務按預測20201年經調整EBITDA的25倍作估值。
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