Monday, March 16, 2015

Overseas Education

Overseas Education (OEL): UOB Kay Hian upgraded to BUY and raised TP to $0.94.

OEL is expected to see a more prominent earnings growth of 25% in 2016, partly due to lower base in 2015 and as the school ramps up enrolment for the new term.

Given the market uncertainties and limited earnings visibility, house believes investors would appreciate OEL’s sustainable business, strong cash flow generation and inelastic client demand.

1 comment:

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