[ET Net News Agency, 2 December 2019] UBS Global Research lowered its target price for
China Education Group (CEG)(00839) to HK$15 from HK$15.39 and maintained its "buy" rating.
The research house said CEG's FY2019 results came in largely in line with expectations.
UBS believes the market largely anticipated the margin drag in FY2019, due to weaker
margin levels at new schools, higher interest expense, and higher minority interests.
UBS said the most noteworthy is that CEG ended FY2019 with Rmb4.3bn cash and equivalents
on the balance sheet. It estimates CEG could have Rmb2.5-3bn surplus cash available, which
could support 2 additional new schools during the rest of FY2020. (KL)
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00839 CHINA EDU GROUP
Nominal 
3.830 -0.090 (-2.296%) Others
02/12/2019 16:49
{I-bank focus}UBS lowers China Education (00839) to HK$15
| Remark: | Real time quote last updated: 19/04/2024 16:33 |
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