The threat of lower enrolment numbers resulting from the soft labour market and restrictions is expected to hit the bottom line of Overseas Education, according to CGS-CIMB Research.

As such, the brokerage has lowered its FY20-22 earnings per share forecasts by 2.3-20.9% to reflect the impact.

It has downgraded the stock to a “hold” rating from “add” with a lower target price of 26 cents from 42.3 cents previously.

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