New Oriental's Hong Kong stocks plummet after net revenue expectations fall below estimates, leading to downgrades from multiple major banks

Zhitong
2025.01.22 04:20

As of the midday close, New Oriental-S fell 25%, with an intraday drop of over 30%, marking the largest intraday decline since July 2021. New Oriental's U.S. stock fell 23% on Tuesday. The company previously announced that its third-quarter net revenue expectations were below estimates and faced downgrades from several major banks. JP Morgan downgraded New Oriental to neutral, with a target price of HKD 40. Macquarie downgraded New Oriental to underperform, with a target price of HKD 34.30. Morgan Stanley downgraded New Oriental's ADR rating to equal weight, with a target price of USD 52

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