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瑞信:維持中國東方教育(0667.HK)跑輸大市評級 目標價降至12港元
格隆匯 06-30 13:06

瑞信發表研究報吿,將中國東方教育(0667.HK)的目標價由14.09港元削至12港元;維持跑輸大市投資評級。

該行將東方教育未來兩年經調整後每股盈利預測下調13-16%,由於收入增長緩慢和更高的營業費用;瑞信對東方教育增長前景的低能見度保持謹慎。

報吿預計,東方教育上半年新生入學率疲弱,該行指,管理層計劃通過多過舉措促進增長,包括更多現有品牌的新專業和新品牌的推出;增加正規中等教育課程的文憑覆蓋面等。

又預計,東方教育來自幾個方面結構性挑戰,包括飽和市場、溢價定價,並專注於初中畢業生;學生對文憑或短期課程的需求變化;來自學費較低的公立職業學校的競爭日益激烈,包括更多的烹飪藝術課程。

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