花旗:維持美團(3690.HK)買入評級 目標價升至364港元
花旗發表的研究報吿指,美團(3690.HK)次季受惠季節性利好及經營效益改善,公司第二季業績表現穩健,期內三個業務收入及盈利表現均跑贏預期,不過疫情個案重現及水災影響,美團指引第三季到店、酒店業務及外賣快遞訂單量將受負面影響,管理層亦指出監管憂慮有限,相信公司在更健康、可持續及有序經營環境下長遠將更好。考慮到監管新規及時間表仍存在不確定性,管理層指將加強騎手福利等,相信成本影響可控,該行將公司目標價由357港元升至364港元,評級維持買入。
該行將公司2021-23年整體收入降2.1%、2.2%及3.9%,現時估算2021-23年按非通用會計準則的淨虧損將分別為166億元、129億元及7.14億元人民幣(下同),估計外賣快遞的單位經濟將逐步向好。

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