KOOLEARN (01797.HK) shares have accumulated a 57% drop since the start of this year, a slight underperformance compared to the 47% decrease of its major afterschool tutoring (AST) peers, and underlying reasons are expected to be increased policy-imposed restrictions on AST advertising, slower growth of online big-scaled classes as well as the weaker-than-expected performance of DFUB -- the company's online education platform, reported UBS.
Expecting the industry's competition to further intensify, UBS cut KOOLEARN's target price from $34 to $18 and maintained its Buy rating.
Expecting the industry's competition to further intensify, UBS cut KOOLEARN's target price from $34 to $18 and maintained its Buy rating.