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高盛:重申美團(3690.HK)“買入”評級 目標價312港元
格隆匯 11-29 14:12

高盛發研報表示,美團(3690.HK)第三季盈利表現穩固,並在食品外賣及店內業務方面保持領導地位,而其社區團購投資亦達到頂峯,而疫情的限制,以及去年高基數,預期於第四季度或可能直至明年首季的餐飲外賣增長將低於預期,該行維持到2025年8000萬的長期外賣日訂單量預測,維持目標價312港元不變,重申“買入”評級。

該行表示,美團第三季度的核心利潤來自外賣、店內和酒店業,其經調整EVIT為47億元人民幣,高於預期,亦投資零售電子商務,特別是美團精選,錄虧損71億元人民幣,低於預期,使集團調整後EBIT虧損降至62億元人民幣,亦低於該行及市場預期。

該行提及,平均下調公司2021年至2023年的收入預測3%,2021年經調整虧損預測由190億元人民幣,下調至170億元人民幣,而2022年至2023年純利預測維持大致不變,持續看好公司食品及本地服務的領導地位,電商零售擴展至不同城市及強勁的資產負債表。

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