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<Research>CMSI Lifts New Oriental Education & Technology Group (EDU.US) TP to USD79 as Operational Optimization to Drive Steady Growth
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NEW ORIENTAL-S (09901.HK) recorded a revenue of US$1.4 billion for 3FQ26, up 20% YoY, 4% above expectation, mainly driven by robust growth at East Buy and steady high-single-digit growth in its core education business, CMSI published a research report saying. Gross margin was 53.7%, down 1.4 ppts YoY. As of February 2026, NEW ORIENTAL-S' net cash reached US$5 billion. Deferred revenue increased 8% YoY. As of 21 April 2026, NEW ORIENTAL-S had repurchased US$184.3 million worth of shares. CMSI maintained NEW ORIENTAL-S as its top pick. Based on upward revisions to earnings forecasts, the broker lifted its next 12-month SOTP target price for NEW ORIENTAL-S' US stock to US$79 from US$76, implying 22.2x/ 17.7x PE ratios for 2026/ 2027 each, with rating at Overweight. Auto-translated by AI AASTOCKS Financial News |
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