DJ Koolearn Technology's Recent Price Corrections May Be Overdone -- Market Talk
0330 GMT - Koolearn Technology's recent price corrections may be overdone, Daiwa Capital says, as it upgrades its rating on the stock to buy from outperform. The online education-service provider's share price has declined by more than 50% from its peak in mid-2020. This has come amid concerns over competition in the online-education market as well as the reopening of offline learning centers, Daiwa notes. "We expect revenue growth to reaccelerate from FY22 and see the current valuation as attractive given Koolearn's long-term revenue growth potential in the K-12 segment," it says. Daiwa maintains a HK$31 price target. Shares are up 1.6% at HK$19.50. (justina.lee@wsj.com)
(END) Dow Jones Newswires
March 16, 2021 23:34 ET (03:34 GMT)
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