SINGAPORE (Nov 5): Maybank Kim Eng has downgraded Overseas Education (OEL) to a “hold” rating from “buy” and cut target price to 72 cents from $1.09 previously, in absence of catalysts and a poor economic outlook.

It also lowered its earnings per share estimates by 17%-29% for FY15-FY17.

According Maybank Kim Eng, enrolment at OEL has been weak this year as the number of students returning to their home country continues to increase.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook