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《大行報告》瑞銀上調新東方在線(01797.HK)目標價至49元 評級「買入」
阿思達克 04-28 10:29
瑞銀發表報告指,新東方在線(01797.HK)的K12大班板塊進展良好,早前試用錄得100萬個活躍參與,若有關用戶於未來數季轉為付費用戶,明年大班業務將錄得顯著增長。目前公司亦有2,000個導師,料今年夏季將增至3,000人。

該行預期今明兩財年新東方在線高毛利的海外測驗板塊業務收入較低,輕微擴大2020及2021財年虧損預測,料每股虧損分別54分及20分人民幣,並維持2022財年扭虧預測,料錄每股純利34分人民幣。該行相信新東方在線K12業務在2021財年潛在強勁增長,將成為上升催化劑;以現金流折現率計,目標價自46港元上調至49港元,評級維持「買入」。

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