《大行報告》高盛:美團(03690.HK)首季核心業務穩固重申「買入」 惟降目標價至364元
高盛發表研究報告,指美團(03690.HK)首季核心盈利穩固,但因需投資美團優選等零售電商業務,令經調整EBIT虧損達42億元人民幣,但虧損數字仍低於該行及市場預期。
報告引述公司指會與監管機構合作,並取消與送餐商戶的獨家合作夥伴條款,公司亦將為送貨員提供額外的意外保險保障,料每宗送餐交易成本額外增加5分人民幣,少於常態騎手每宗送餐成本的1%。
展望第二季,美團管理層預期來自新業務的虧損將進一步擴大,除美團優選外,公司亦建立凍鏈配送,維持「買入」評級,目標價由396元降至364元。
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