《大行报告》大和上调新东方-S(09901.HK)目标价至154元 评级「买入」
大和发表报告指,新东方-S(09901.HK)在昨日(20日)公布了2021财年第三季业绩,并指引第四财季收入按年增长38%至43%,超出该行预期。
该行表示,虽然管理层对2021财年扩张目标的说法更为温和,目前预期财年内的课室容量将增加20%,为其通常容量计划20%至25%的低位。不过,该行认为集团仍有多种方法推动收入增长,包括OMO模式等。
大和上调新东方股份目标价,由151元升至154元,评级维持「买入」,并调升集团2021至2023财年收入及盈利预测1%至4%,以反映K12业务强劲,及海外准备考试业务的恢复早於预期。由於集团长期业务扩展及高合规水平,大和仍视新东方为行业首选之一。
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