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《大行報告》摩通升美團(03690.HK)評級至「增持」 上調目標價至450元
阿思達克 01-20 09:46
摩根大通發表報告,上調美團(03690.HK)評級,由「中性」升至「增持」,目標價亦由270元大幅上調至450元,估計用戶增長加快,及團購業務的城市覆蓋和成交總額(GMV)提升將為近期催化劑。

該行相信社區團購將成為美團的長期盈利增長動力,因團購有具規模的整體潛在市場(TAM)、有長期的合理毛利結構,及與集團的核心食品配送及店內業務有差異性,且集團亦有穩固的線下執行力。

摩通預期,團購業務在2025年將為美團產生2,340億元人民幣的收入,及盈利340億元人民幣,因此反映團購業務估值1,000億美元。

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