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《大行報告》瑞銀升新東方(EDU.US)目標價至109美元 上調收入及盈測
瑞銀發表研究報告指,新東方(09901.HK)(EDU.US)結構性增長趨勢持續,過去數個季度業績表現均強勁,雖然市場會擔憂是否期望太高,但瑞銀相信該集團的業務發展仍有提升空間,其2024第二及第三財季收入增長指引為42%至45%,大幅高於瑞銀及市場普遍預期。 該行又預期,教育業務正開始復甦,帶動集團在宏觀不確定性中仍實現快速且明顯的增長,預期教育業務的利潤率提升,有助抵銷來自東方甄選(01797.HK)對利潤率的拖累,重申「買入」評級,將2024財年收入預測上調6%至按年增長39%;經調整淨利潤預測上調7%至5.24億美元,按年增長約103%,2025至2026財年經調整淨利潤預測則上調約5%,美股目標價相應調升至109美元。
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