大行評級丨星展:料中資互聯網股首季不大可能跑贏大市 行業首選美團及攜程
星展發表中國互聯網行業報吿,因市場情緒疲弱,料中資互聯網股於今年首季不大可能跑贏大市,但部份企業的穩健的基本面仍存在提供選擇性機會。該行指,美團及攜程為其今年首季度的行業首選,該行予美團“買入”評級,將目標價由236港元降至223港元,予攜程“買入”評級及目標價784港元。星展認為,美團在海外擴張相關損失擔憂影響,近期股價出現回落是一個良好切入點。美團拓展新業務三個月內,就佔領了沙地阿拉伯首都利雅德相關市場20%的市場份額,單位經濟效益(UE)比預期好。公司一旦宣佈2025年指引,對新業務部門虧損的擔憂或可能得到緩解。而攜程仍然是旅遊支出轉變和強勁國際需求的明顯受益者,而今年的潛在紅利將成為催化劑。
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