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<Research>CMBI Elevates New Oriental Education & Technology Group (EDU.US) TP to US$82 on Stable Rev. Growth/ Margin Expansion
Recommend 5 Positive 2 Negative 1 |
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NEW ORIENTAL-S (09901.HK) announced its 3FQ26 results, with net revenue increasing 20% YoY to US$1.42 billion, 4% above market consensus, mainly benefiting from solid growth in new educational business initiatives and currency tailwind, CMBI published a research report saying. Management expected 4FQ26 net revenue to grow 15-18% YoY to US$1.43-1.47 billion, ahead of the market consensus of US$1.43 billion, and expressed optimism about further margin improvement in 4FQ26 and FY2027. CMBI raised its FY2026-2028 non-GAAP operating profit forecasts for NEW ORIENTAL-S by 5-14% to reflect its robust core education business and improved efficiency. Based on the sum-of-the-parts (SOTP) valuation method, the broker elevated its target price for NEW ORIENTAL-S' US stock from US$78 to US$82, with rating kept at Buy. Auto-translated by AI AASTOCKS Financial News |
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