Zhitong Financial APP learned that Morgan Stanley released a research report saying that the performance of education stocks in 2021 was roughly in line with expectations, while the external growth of different companies brought varying degrees of contribution, maintaining China Kopei's (01890) "overweight" rating, corporate M & An activity began to be conservative, and the target price was lowered from HK $6 to HK $4.90.

The report points out that in the medium to long term, degree vocational education has growth opportunities, but the period of rapid growth has passed, and the industry has entered a stage of fierce competition. The bank believes that Yuhua Education (06169) "overweight" rating is maintained, but due to the increase in capital expenditure, the share price is under pressure in the short term, and the target price is lowered from HK $6.80 to HK $4.60.

In addition, the bank has a "keep pace with the market" rating of Hope Education (01765). It is estimated that it will take time to improve the quality of its schools, and the target price has been raised slightly from HK $1.40 to HK $1.60.