大和:重申美團(3690.HK)買入評級 目標價上調至500港元
大和總研發表研究報吿指,美團(3690.HK)將在3月份公佈去年業績,認為其在社區團購市場上的成功機會或優於同行,又料國內旅行和本地服務收入的恢復速度可能快於市場預期,到店、酒店及旅遊業務或在2021年重估。該行重申其買入評級,目標價由370港元上調至500港元。
大和預期,美團去年第四季外賣收入按年增34%;總訂單量按年增32%;每筆訂單平均價值按年增4.5%,又料2021年外賣業務收入將按年升56%,主要由於去年低基數效應。到店、酒店及旅遊業務方面,料第四季收入按年升11%,又料該業務2021年收入按年升55%。
大和指,至於社區團購業務“美團優選”日活躍用户在一月初已達2000萬,料2021年及2022年將產生收入130億元人民幣及307億元人民幣。

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