CICC: Maintains China East Education's outperform rating, raises target price to 9.5 HKD.

According to the Wise Finance APP, CICC released a research report stating that considering the enrollment recovery of China East Education (00667) is better than expected, the revenue forecast for 2025/2026 was raised by 2.4%/6.4% to 4.5 billion/5 billion yuan; considering the company's cost and expense control results are better than expected, the adjusted net profit forecast was raised by 16.8%/28.0% to 756 million/974 million yuan. The outperform industry rating is maintained, taking into account the company's strong position in the vocational education market and enrollment recovery better than expected, the target price is raised by 58% to 9.5 Hong Kong dollars (based on 9.8 times adjusted 2025e EV/EBITDA). The company is currently trading at 7.5 times adjusted 2025e EV/EBITDA, corresponding to 18% upside potential.