《大行報告》里昂上調美團-W(03690.HK)今年經調整淨利潤預測三成 評級「買入」
里昂發表報告指,美團-W(03690.HK)首季業績勝該行預測,總收入按年增26.7%至586億元人民幣(下同);經調整稅息前盈利(Ebit)達44億元,高於預期的19億元。受惠於強勁的需求、新營銷活動及直播和短視頻等工具,集團的核心本地商業收入按年增長25.5% 至429億元。
該行預計,集團第二季核心收入按年增長料加快至約35%。集團將提高商家返利和用戶補貼以抵禦競爭,到店利潤率或降至約30%,惟核心經調整Ebit應保持在96億元的高位。該行將其2023及24財年的經調整淨利潤預測分別上調30%和1%,維持「買入」評級,目標價235港元。
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