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瑞銀:上調美團(3690.HK)目標價至470港元 評級“買入”
格隆匯 02-17 14:13

瑞銀髮布研究報吿,將美團(3690.HK)目標價由340港元上調38%至470港元,維持“買入”評級。

瑞銀髮表報吿表示,上調美團2022年度及以後收益預測,源於最近拓展之網上雜貨市場具吸引力,尤其是社區團購將成新增長動力;但預期毛利率會低於預期,因監管及社區團購方面的投資。

該行認為,由於目前優質互聯網股數量不多,以及美團在電子商務中獲得市場份額的能力,相信投資者將予其估值溢價。該行稱,即使社區團購業務短期內對美團盈利能力帶來影響,但對其長線增長前景有信心,因此料其2021及2022年度收益按年增長分別為63.5%及41.1%,經營溢利率則按年跌2%及升1.8%。

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