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花旗:升中國科培(1890.HK)目標價至5.4港元 評級“買入”
格隆匯 01-14 14:34

花旗發表報告表示,中國科培(01890.HK)斥14.5億元人民幣收購民辦普通本科院校哈爾濱石油學院,相當於其2020年EV/EBITDA倍數的10.9倍,認為交易估值合理,加上公司斥資1.4億元人民幣投資合營,收購大學牌照,預期未來可以合理價錢收購餘下55%。

該行表示,決定上調中國科培2020及2021年盈利預期分別12%及14%,將目標價由4.6港元升至5.4港元,此相當預測市盈率16倍(此前予其估值15倍),維持“買入”投資評級,認為未來仍有收購機會。

花旗稱,學校目前的學生人數有9,366人,公司管理層預期未來會續有增長,而今學年學校學費提升9%,管理層預期仍有10%的升幅,同時目前學校的空間可容納2萬名學生。

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