《大行报告》美银证券上调美团(03690.HK)目标价至397元 料上季外卖业务稳固
美银证券发表报告表示,重申对美团(03690.HK)「买入」投资评级,目标价由336元上调至397元,相当预测2023年预测市盈率40倍,属领先餐饮外卖及到店、旅游服务、杂货及新鲜货品平台的平均估值水平,料其上季外卖业务稳固,并在社区零售业务快速扩张。
美团将於今年3月公布公司去年第四季业绩,估计美团上季外卖业务可录按年34%增长,较去年第三季33%轻微加快,主要是由於订单呈30%稳定增长,而收益率的提高部分归功於营销支出。但最近内地旅行活动放缓,可能会影响到美团今年上半年复苏速度。因此,该行下调美团2021年收入预测约4至5%。
美银证券估计美团2020年至2022年经调整纯利各61.23亿、65.74亿及374.54亿人民币、料公司於2020年至2022年每股盈利分别为1.04元、1.11元及6.32元人民币,按年各升1.7倍、6.6%及4.68倍。(wl/u)
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