《大行報告》美銀證券上調美團(03690.HK)目標價至397元 料上季外賣業務穩固
美銀證券發表報告表示,重申對美團(03690.HK)「買入」投資評級,目標價由336元上調至397元,相當預測2023年預測市盈率40倍,屬領先餐飲外賣及到店、旅遊服務、雜貨及新鮮貨品平台的平均估值水平,料其上季外賣業務穩固,並在社區零售業務快速擴張。
美團將於今年3月公布公司去年第四季業績,估計美團上季外賣業務可錄按年34%增長,較去年第三季33%輕微加快,主要是由於訂單呈30%穩定增長,而收益率的提高部分歸功於營銷支出。但最近內地旅行活動放緩,可能會影響到美團今年上半年復蘇速度。因此,該行下調美團2021年收入預測約4至5%。
美銀證券估計美團2020年至2022年經調整純利各61.23億、65.74億及374.54億人民幣、料公司於2020年至2022年每股盈利分別為1.04元、1.11元及6.32元人民幣,按年各升1.7倍、6.6%及4.68倍。(wl/u)
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