《大行報告》麥格理上調新東方-S(09901.HK)目標價至40元 評級「跑贏大市」
麥格理發表研究報告指,新東方-S(09901.HK)的新業務在學習中心規模上實現逾一成利潤率,上半年收入按年增長262.7%至21億元人民幣;純利錄5.853億元人民幣。以人民幣計算,集團管理層對第三季的收入增長指引為24至27%。該行維持集團港股及美股的「跑贏大市」評級,港股目標價由30元上調至40元,美股則由38.3美元上調至51美元。
該行表示,將集團2023年的非通用會計準則淨收入預測調整為下跌10.6%,又將2024及25財年分別調整為增加14.1%及13.2%,原因是新東方在線(01797.HK)的淨利潤貢獻和盈利能力增加導致少數股權減少。
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