《大行報告》美銀證券上調新東方-S(09901.HK)目標價至42.7元 評級「買入」
美銀證券發表研究報告指,新東方-S(09901.HK)第三季度收入及利潤均勝於預期,收入按年增23%至7.54億美元,較預期高5%,相信課外輔導及高中業務貢獻了大部分上行驚喜。該行將集團2023至24財年的non-GAAP每股盈測提高25至30%,目標價由37.1元上調至42.7元,重申評級為「買入」。
在眾多教育領域集團中,該行繼續看好新東方,因為具備多個業務增長引擎,前景表現好於預期,帶來潛在的盈利增長;具有吸引力的風險回報;及未來增加股東回報策略。該行指,集團的核心業務勢頭可能會因疫情後需求復甦和份額增長而保持強勁,而入學人數或會顯著增加,這導致以美元計的收入增長53至57%的強勁預期。
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