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.
野村:重申新東方在線(1797.HK)“買入”評級 目標價41港元
格隆匯 07-09 14:08

野村發表研究報告指,新東方在線(1797.HK)的網上K12小班教學產品有獨特及市場領導地位,而在2020財年旗下的教育平台東方優播(DFUB)已進入多88個低端城市,料期內毛利率達7%。該行重申其“買入”投資評級,目標價由42港元下調2.38%至41港元。

野村表示,新東方在線的小班定位及本地化教育內容,能使其的表現在低端城市突出。該行又指,若新東方在線的暑期課程能有80-100萬名學生報名,將會帶來強勁得益,又相信新東方在線在新冠肺炎疫情後,與頭4位的同業差距已縮少。

野村認為,隨着K12的需求增加,新東方在線及東方優播需要加聘一倍的老師,料成本壓力高於預期。為反映疫情的影響,該行下調新東方在線2020財年大專教育收入13%及毛利率6個百分點。

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