A Morgan Stanley report released on August 1st stated that, as mentioned in the bank's report last week, New Oriental (09901.HK) is expected to perform poorly this quarter and next quarter. Therefore, it is understandable that the market has a negative reaction to the lower-than-expected performance. The bank has reduced its earnings per share forecast by about 10%. However, the bank's forecast for the education earnings of the stock, which accounts for more than 95% (currently 100%) of fair value, remains unchanged. Considering the fundamentals, patient investors have no reason to panic. The bank has lowered the target price for New Oriental from HKD 71 to HKD 66 and maintains a buy rating.
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JPMorgan Chase lowers New Oriental's target price to 66 Hong Kong dollars, with a rating of overweight
A Morgan Stanley report released on August 1st stated that, as mentioned in the bank's report last week, New Oriental (09901.HK) is expected to perform poorly this quarter and next quarter. Therefore, it is understandable that the market has a negative reaction to the lower-than-expected performance. The bank has reduced its earnings per share forecast by about 10%. However, the bank's forecast for the education earnings of the stock, which accounts for more than 95% (currently 100%) of fair value, remains unchanged. Considering the fundamentals, patient investors have no reason to panic. The bank has lowered the target price for New Oriental from HKD 71 to HKD 66 and maintains a buy rating.