《大行報告》大摩引述美團-W(03690.HK)料今年收入按年增長三成
摩根士丹利發表報告,指美團-W(03690.HK)首季業績穩固,相信市場對到店業務競爭的擔憂,已反映在股價上,憧憬外送業務單位利潤提升,以及到店業務交易額及市場份額有增長空間,維持對其「增持」評級,目標價180元。
核心本地商業業務方面,大摩引述美團管理層透露,展望今年全年預期收入可按年增長30%,非國際會計準則下經營利潤料實現逾20%增長。按業務劃分,外送銷量預計按年增長20%以上,單位利潤料改善;到店、酒店及旅遊業務經營利潤率則預期保持在約35%水平。管理層又預期,旗下外送業務具有商家、用戶及配送網絡優勢,競爭對手難以複製,長遠而言預期市場份額可從現時的70%進一步提升至75%以上。
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