DJ EQS-News: China New Higher Education (2001.HK) Received Increased Target Prices from Multiple Well-known Investment-Banks with Highest being $8.07 HKD
EQS-News / 14/09/2020 / 10:26 UTC+8
(Stock code: 2001. HK)
China New Higher Education (2001.HK) Received Increased Target Prices
from Multiple Well-known Investment-Banks
with Highest being $8.07 HKD
(September 14, 2020, Hong Kong) China New Higher Education Group Limited
("New Higher Education Group", collectively called the "Group" together with
its affiliated companies; stock code: 2001.HK) recently announced its
interim results for the first six months of 2020, maintaining strong growth
and continuous dividend payment. Many investment banks/securities brokers,
including Citibank, CLSA, CICC, CMS, DBS Bank, etc. are optimistic about the
Group's future growth, by increasing target prices, and all maintain the
rating of "Buy / Overweight". The highest target price among them is $8.07
HKD.
Investment Banks/ Securities Rating Target Price
Brokers
First Shanghai Group Buy Up from HK$5.0 to
HK$8.07
Citibank Buy Up from HK$6.7 to HK$7.9
DBS Bank Buy Up from HK$4.2 to HK$7.8
CMS Buy Up from HK$7.1 to HK$7.6
KGI Overweight Up from HK$6.3 to HK$7.5
CICC Outperform Up from HK$6.5 to HK$7.4
Zhongtai International Buy Up from HK$6.8 to HK$7.1
CLSA Buy Up from HK$6.84 to
HK$7.09
ICBC International Overweight Up from HK$5.9 to HK$7.0
China Galaxy International Buy Up from HK$4.8 to HK$6.7
The research reports indicated the Group's strong business growth and that
its two schools had applied conversion of independent colleges, which are in
smooth progress and expected to be completed at the end of 2020 or the first
half of 2021. Also, the Group acquired Yunnan Vocational School in the first
half of 2020 and is expected to expand the Group's other income stream in
the future.
The reports further pointed out that the Group has more than 118,700
students, and expected to keep strong growth in the 2020/2021 academic year,
with its leading organic growth capability in the industry. With extensive
acquisition experience, the Group further acquired the remaining 45% stake
of its Henan school and 39% minority stake of its Guangxi schools in 2020,
both at 13.7x in P/E ratios, both lower than the first acquisitions and far
below the market average price. In the future, under the "organic growth +
value investment" strategy, the Group will maintain strong growth and stable
divident policy to create more value for shareholders.
-End-
About China New Higher Education Group Limited:
China New Higher Education Group Limited is a leading private formal higher
education group in China with nearly 21 years of education industry
experience, specializing in providing higher education which focuses on
applied sciences. The Group endeavors to help each student maximize their
potential and live their life to the fullest. Since 2009, the Group has been
operating schools in different provinces and regions, and its current school
network covers 7 provinces in China, including Yunnan, Guizhou, Hubei,
Heilongjiang, Henan, Guangxi, and Gansu.
The Group provides high quality higher education in a wide selection of
fields in applied sciences. Its courses are designed to equip students with
practical and readily applicable skills, helping to prepare them for the job
market. As a leader in high-quality employment, the Group won the title of
the Top 50 National Employment of the MOE, with an average employment rate
of above 97%. The Group became a constituent stock of the Hang Seng
Composite Small Cap Index and the Hang Seng Consumer Goods & Services Index
in the Hang Seng Composite Index Series in August 2017, and was included as
a constituent stock of the MSCI China Small Cap Index in November 2017 and
included as a constituent stock of Shenzhen and Hong Kong Stock Connect in
March 2018.
This press release is distributed by Wonderful Sky Financial Group Limited
on behalf of China New Higher Education Group Limited.
For further information, please contact:
Wonderful Sky Financial Group Limited
Ms. Aileen Wang / Ms. Sandy Bai
Tel: (852) 3970 2226 / (852) 3970 2221
Email: newhigheredu@wsfg.hk
File: China New Higher Education (2001.HK) Received Increased Target Prices
from Multiple Well-known Investment-Banks with Highest being $8.07 HKD [1]
14/09/2020 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
September 13, 2020 22:26 ET (02:26 GMT)
