Macquarie raises New Oriental's target price to 39.3 yuan, maintains "Underperform" rating
Macquarie published a report indicating that New Oriental-S (09901.HK) core education business and EAST BUY are jointly driving profit margins in the second quarter of fiscal year 2026 to exceed expectations. Management expects the operating profit margin for fiscal year 2026 to expand by 2 to 3 percentage points due to effective cost control.
After the release of New Oriental's financial report, the firm raised its target price from HKD 37.7 to HKD 39.3, while the target price for New Oriental (EDU.IS) in the US stock market was raised from USD 48.3 to USD 50, but maintained a "underperform" rating due to a cautious attitude towards the education industry and the lack of sustainable revenue growth drivers
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