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《大行報告》里昂下調美團-W(03690.HK)目標價至310元 評級「買入」
阿思達克 05-27 09:47
里昂發表報告預計,美團-W(03690.HK)首季總收入450.5億元人民幣,按年增速放緩至21.7%(去年第四季增速為30.6%)。經調整淨虧損46.64億元人民幣,比上年同期擴大19.8%。新業務經調整經營虧損料收窄至93.98億元人民幣(去年第四季虧損102.05億元人民幣)。 由於美團於上海和深圳業務佔比超過20%,該行預計,受疫情封控措施影響,首季核心食品配送和到店收入313億元人民幣,按年增速放緩至15%;並預計次季核心收入增長將減速至低單位數,相信解除封控措施後將迅速反彈。 鑒於封控措施的不確定性,該行將美團2022和2023年度經調整淨利潤預測降低33億元;並將人民幣兌美元預測由6.5改為6.8;美團目標價相應由370港元下調至310港元,評級「買入」。
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