Komo released a research report stating that it gave New Oriental-S (09901.HK) an “additional” rating and adjusted the valuation model to reflect the results of the third fiscal quarter ending the end of February, as announced by New Oriental last month. The forecast for future earnings was raised by 5%, but the average earnings per share was reduced by 10% to reflect the reset of profit margin forecasts for the current fiscal quarter. The target price was lowered from HK$75 to HK$71.
小摩：予新东方-S(09901.HK)“增持”评级 目标价降至71港元
Komo: Target price for New Oriental-S (09901.HK) “Plus” rating reduced to HK$71
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