智通财经APP获悉,交银国际发布研报称,预计新东方-S(09901)的非甄选业务第三季收入同比增22%,经调整营运利润同比跌约2.5个百分点,主要是由于留学相关业务增长低于预期及文旅投入。该行料非甄选业务全年收入增长25%,经营利润率升11.5%,留学业务增长料将继续受压。该行认为,集团的长期利润率仍有上升空间,目标价由降至46港元。另外,公司现金流充足,虽然业务需要调整,但品牌及规模仍领先行业,估值吸引,维持“买入”评级。
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