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<Research>Macquarie Downgrades NEW ORIENTAL-S to Underperform w/ TP Slashed by 44% to $34.3
Recommend 5 Positive 10 Negative 4 |
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NEW ORIENTAL-S (09901.HK) (EDU.US) logged a YoY increase of 19% (31% if excluding EAST BUY (01797.HK)) in revenue for 2QFY25, beating the guidance of a 25-26% YoY growth, according to a report from Macquarie. The non-GAAP operating profit margin, excluding EAST BUY, climbed by 12 bps to 3.2%, falling short of the 50 bp expansion target. Macquarie revised down its FY25-27 non-GAAP net income forecasts for NEW ORIENTAL-S by 9.1%/ 17.8%/ 25.8% on its lower non-GAAP operating profit margin projection. The broker axed its target price for NEW ORIENTAL-S' H-shares from $61.6 to $34.3, with an investment rating downgraded from Outperform to Underperform. AAStocks Financial News |
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