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<Research>Haitong Int'l Initiates Coverage on NEW ORIENTAL-S (09901.HK) with Outperform Rating, $49 TP
Recommend 5 Positive 6 Negative 1 |
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Haitong International, in its research report, initiated coverage on NEW ORIENTAL-S (09901.HK), recognizing the company's leadership in various segments including K12 and overseas business. Furthermore, the company's generative AI applications in scenarios such as automated courseware creation, digital twins of star teachers and AI-powered homework grading, will simultaneously enhance conversion efficiency and content quality, aiding the company in sharpening efficiency and business focus. Haitong International also mentioned that the company had announced a three-year shareholder return plan with a dividend payout ratio of no less than 50%. Based on the net profit of USD372 million for FY2025 and the current market value, the corresponding shareholder return is approximately 2.7%, reflecting management's continued commitment and confidence in profitability. In view of this, Haitong International assigned an 18x PE to the FY2026 non-GAAP net profit, giving NEW ORIENTAL-S a target price of HKD49 and an Outperform rating in its initial coverage. AASTOCKS Financial News Website: www.aastocks.com |
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