You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》花旗首予中國東方教育(00667.HK)「買入」評級 另下調多家教育股目標價
花旗發表研究報告,指考慮近期內地收緊對課後補習行業監管,早前對內地教育開支趨勢進行調查,發現約57%家長計劃削減子女課後補習開支,加強了該行對科目爲本課後補習商的審慎看法。在課外活動方面,學術活動比率在總課後補習開支現時比例約「1:2」,但未來課後補習開支料流向課外活動(STEM)課程。此外,對職業教育及與海外升學相關的需求上升。線上課後補習方式滲透率達40%,而面對面課後補習較受歡迎。 報告首次覆蓋中國東方教育(00667.HK),予「買入」評級,目標價12元,相當於未來12個月預測市盈率25倍(或預測動態市盈率1倍),以及2021至2023財年每股盈測年均複合增長24%。報告稱,中國東方教育屬內地職業教育龍頭企業。利用其逾30年的經驗、強勁品牌、可複製經營模式,全國性學校網絡以及政府政策支持,料2021至2023年間中國東方教育收入年均複合增長16%,純利年均複合增長24%。板塊中該行亦喜好中教控股(00839.HK)及新東方(09901.HK)。詳細投資評級及目標價見另表。 花旗表示,考慮調查結果加強了該行對學科補習商的審慎看法,下調補習商2021至2024財年收入預測由介乎11%至14%,至最多約80%。花旗相應下調多家內地教育股目標價,詳見另表。(da/s) ~
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account