You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
摩根士丹利:升新高教集團(2001.HK)評級至“增持” 目標價升至5.6港元
格隆匯 06-17 11:17

格隆匯6月17日丨近期,摩根士丹利發佈行業研報,指出在政策利好的大環境下,預計新高教“學費將持續增長,新疆項目風險解除”,將評級由“持股觀望”提升至“增持”,目標價由3.2港元提升至5.6港元。

該行指出,政府為減輕GDP增長放緩產生的就業壓力,將增加今年9月的高等教育招生名額,預計今年9月高教學校將在新學年實現更高的招生增長。同時近期政府發佈政策加快獨立學院轉設工作,獨立學院將很快完成轉設並之後不再支付大校管理費,預計新高教完成旗下兩所獨立學院轉設後未來毛利率會有所提升。

摩根士丹利認為,新高教新疆項目風險解除,同時預計公司將提升學費,通過改善學生層次結構,其平均學費在未來五年將持續保持10%的增幅。預計2020年收入增長將在20%以上,淨利潤預計在2020年和2021年增長36%和29%。報告同時指出,新高教資產負債表改善明顯,淨負債率在2019年同比下降23個百分點到15%。另外,摩根士丹利預計新高教利潤率將在併購學校的教學質量提升和成本結構改善之後不斷提高。

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.
uSMART
Wealth Growth Made Easy
Open Account