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招银国际:美团-W1Q22业绩超预期 目标价升至263港元

2024-07-07 17:57:54 浏览:28

招银国际发布研究报告称,(03690)1Q22业绩超预期,收入同比增长25%(比一致预期/该行预测高2%/3%)。该行重申对其长期内生增盈利可见性的信心,并将2023-24财年盈利预期调高7%-17%,目标价升至263港元。

报告中称,该行对美团即将的业绩恢复和利润率前景更为乐观,理由是:1)有韧性的2Q22指引,外卖业务同比增长9%(高于买方预期);2)利润率改善,EBITDA将在2022财年实现盈亏平衡,其中外卖业务经营利润和经理利润率同比改善,新业务亏损持续缩小。该行认为,好于预期的2Q22指引支持了2H22的复苏势头,美团将是受益于疫情稳定的关键标的。

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