摩根士丹利发表报告指，新东方(EDU.US) 2025财年第三季指引疲弱，显示疲弱宏观环境的影响较预期恶化。该行认为2025财年第三季及其后时间的不确定性增加。
该行认为新东方2026财年能见度有限，预测新东方核心收入届时将进一步放缓至按年增长20%，non-GAAP营业利润为5.77亿美元 ，non-GAAP纯利为5.28亿美元。
该行对新东方2025财政年度盈利预测下调18%、2026财政年度下调17%，反映核心营业利润率预测下调，并受到海外及旅游业务侵蚀。该行下调新东方的目标价从83美元降至52美元，评级由“增持”至“与大市同步”。(ha/w)(美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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