Jefferies Group LLC: maintain the new oriental-s buy rating and believe that the company's performance will return to normal

$新東方 (EDU.US)$ $東方甄選 (01797.HK)$ $在線教育 (LIST1193.HK)$ $教育 (LIST1091.HK)$ $熱門中概股 (LIST2517.US)$
Jefferies Group LLC released a research report saying that it maintained the "buy" rating of New Oriental-S $新東方-S (09901.HK)$ , raised its revenue forecast for fiscal 2023 by 94% to reflect its views on its remaining after-school counseling and new business, and raised its target price from HK $41 to HK $42.

According to the report, Jefferies believes the company's performance will return to normal, and the after-school counseling (AST) business will focus on high school students, which is expected to account for about 20% of the income; Overseas study business will return to the position of the largest contributor to revenue, accounting for about 30% of revenue.

The management of New Oriental pointed out that the company plans to consolidate its leadership in existing businesses such as overseas study business and research institutes, and explore new opportunities such as quality education business.