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《大行報告》大和下調美團-W(03690.HK)目標價至250元 評級「買入」
大和發表報告指,美團-W(03690.HK)第三季盈利表現超出預期,主要是由於外送業務經營利潤率向好,以及新業務的虧損低於預期。 雖然該行認為,在內地現行「清零方針」下,除非防疫措施有所放寬,否則外送業務訂單量未來將繼續受壓。但大和亦預計單位經濟效益將進一步改善,推動外送業務利潤率可於今年第四季錄得按年增長。 對於騰訊(00700.HK)宣布將向股東實物分派所持有的約9.6億股美團B類股份,大和指出可能對美團造成短期拋售壓力,但仍然建議投資者在股價疲軟時適量吸納。 基於疫情影響,大和將美團2022至2024年收入預測下調2%,下調目標價由300元降至250元,重申「買入」評級。
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