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<Research>Daiwa Chops NEW ORIENTAL-S (09901.HK) TP to $58 as Macro Headwinds Persist
Recommend 2 Positive 5 Negative 3 |
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NEW ORIENTAL-S (09901.HK) guided 3FQ25 core education revenue to grow 18-21% YoY in USD terms, below the market consensus of a 31% growth, and lowered its FY2025 guidance from 30% YoY incline to 25% hike, mainly due to weak demand for overseas study and a decline in demand for high-end 1-on-1 services, Daiwa released a research report saying. In addition, the broker forecasted NEW ORIENTAL-Ss core education revenue to increase by 27% YoY in RMB terms in FY2025, compared with the original estimation of a 30% incline, as the macro headwinds persist. Daiwa also lowered its FY2025-FY2027 revenue forecasts by 4-5%, and EPS growth forecasts by 2-10%. The broker reiterated rating at Buy, and chopped its target price from $67 to $58. AAStocks Financial News |
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