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《大行報告》美銀證券升新東方-S(09901.HK)評級至「買入」 目標價上調至28.5元
美銀證券發表研究報告指,新東方(09901.HK)(EDU.US)今年5月底止第四財季業績預期已見底,收入及盈利預期將在今年8月底止2023首財季中恢復,為公司帶來新發展。 該行指出,新東方多個業務線都向好,海外備考、諮詢及國內備考業務均已見底,並開始錄得積極增長,而新業務期內亦快速增長,學生留存率不斷提高,在線平台Koolearn的發展取得顯著進展,料將成為主要增長動力之一。 管理層預計2023財年首季收入將達到6.41億至6.81億美元,即按季增長22%至30%。美銀預測全年收入可達約25億美元。 除收入恢復外,美銀亦預計盈利能力有所改善,由於公司重組已在2022財年首三季基本完成,第四季度非通用會計準則經營虧損率已收窄至15%,估計新東方將在2023財年實現盈利,將2023財年的非通用會計準則每股盈利預測上調至0.97美元,2024財年預測上調至1.1美元,評級由「中性」升至「買入」, 目標價由14.7元升至28.5元。
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