《大行报告》花旗削美团-W(03690.HK)目标价至113元 下调收入及盈测
花旗发表报告,预期美团-W(03690.HK)3月底公布去年第四季业绩,料大致符合预期,关注管理层对今年首季及全年的展望,相信食品配送交易量维持温和增长,但收入及单位收益受宏观经济疲弱拖累。在市场竞争加剧、推广优惠增加下,估计今年到店业务利润率下跌至29%,而美团优选及海外扩充策略将会成为市场关注重点。
报告指,在行业估值下调及市场竞争威胁下,将美团目标价由179元下调至113元,维持「买入」评级,2023至2025年三年期间的收入预测,分别降0.3%、4.7%及7.7%,non-GAAP盈利预测分别下调0.9%、17%及22%,以反映核心本地商业及新业务收入增长放缓,外卖及到店服务利润率收窄。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.