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《大行報告》大摩上調中教控股(00839.HK)目標價至16.4元 評級「與大市同步」
阿思達克 08-11 10:17
摩根士丹利發表研究報告指,中教控股(00839.HK)斥資13.6億元人民幣,收購海口經濟學院及海口經濟學院附屬藝術學校的60%股份,預期可為2021年經調整後淨利潤貢獻12%,令每股盈利提升14%。

大摩解釋,新收購的學校目前已招收4.4萬名學生,預期今年及明年入學配額增長率分別達到35%和16%,本財年底學費亦可提升約21%。

該行又指,收購後中教控股有望以年利率3%至5%的低息借貸,置換較高成本的債務,降低融資成本,將2021及2022年調整後每股盈利預期調高14%,目標價由14.3元上調至16.4元,以反映2021年預測市盈率約25倍,評級「與大市同步」。

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