《大行報告》花旗上調美團(03690.HK)目標價至225元 料次季非通用會計準測淨虧損16.2億人民幣
花旗發表研究報告指,美團(03690.HK)將於8月底公布次季業績,考慮到內地餐廳重新開業、父親節及端午節假期需求強勁,加上有紀律的補貼及成本控制,將第二季外賣業務收入及經營溢利增長預測分別上調2.4%及11.7%,到店業務收入及經營溢利增長預測上調3.1%及4.2%。
花旗預測美團第二季總收入將按年升13.2%至495億元人民幣,非通用會計準測淨虧損料達16.2億元人民幣,少於市場預期的26.6億元人民幣淨虧損。該行表示,復甦趨勢有望可持續至下半年,預測第三季收入增長加快至19.1%,達到581億元人民幣,當中外賣業務增長17.1%,新業務更增長35.1%。但考慮到疫情反覆及高風險地區防疫限制,花旗認為復甦趨勢仍存在不確定性。
整體而言,花旗將美團2022至2024年總收入預測上調0.5%、0.3%及1.3%,預測今年淨虧損為52.5億元人民幣,2023至2024年錄得淨利潤101億及238億元人民幣,目標價由222元上調至225元,維持「買入」評級。
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