Core Viewpoint - New Oriental's Q2 FY2026 performance exceeded market expectations, driven by improved profitability in its education business and contributions from Dongfang Zhenxuan [1] Group 1: Financial Performance - The company raised its FY2026 revenue growth guidance from 5%-10% to 8%-12% due to stronger-than-expected revenue growth in K12 and overseas study segments [1] - Earnings visibility has improved due to efficiency enhancements and contributions from Dongfang Zhenxuan [1] Group 2: Earnings Forecast - Based on the upward revision of Dongfang Zhenxuan's profit forecast, the company increased its earnings per share estimates for FY2027-2028 by 0.4% to 1.4% [1] - The target price for New Oriental was raised from HKD 53 to HKD 57, maintaining a "Buy" rating [1]
大行评级｜大和：新东方盈利增长能见度更清晰，目标价上调至57港元