《大行報告》麥格理降美團(03690.HK)評級至「中性」 目標價下調至287元
麥格理發表報告,將美團(03690.HK)評級降至「中性」,表示雖然長期看好其發展前景,但指出正面因素已反映在股價表現上,目前未見到業務有其他明顯的進步,盈利增長趨勢放慢,因此下調明年預測。
該行指,美團核心的食品配送業務發展健康,但預期明年沒有強勁增長跡象,按照目前的步伐,相信明年實現交易總額按年增長48%、經營溢利率達9.5%沒有問題,但未見成績可超出預期,因此相信該業務的利好因素很大程度已反映在股價之上。
麥格理預期,美團餐飲供應鏈服務正處於業務擴展的初期階段,相信在未來幾個季度才可見到回報。該行將2021至2022財年的非國際財務報告準則每股盈利預測分別下調13%和8%,並將目標價由294元下調至287元。
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