Market Overview

UPDATE: Oppenheimer Upgrades China Distance Education Holdings to Outperform, Names $8 PT on Momentum Pick-Up, Anticipated Revenue


In a report published Thursday, Oppenheimer analyst Ella Ji upgraded the rating on China Distance Education Holdings (NYSE: DL) from Perform to Outperform, and named an $8.00 price target.

In the report, Oppenheimer noted, “We are upgrading DL to Outperform from Perform and introducing an $8 target. Momentum in its core accounting test prep services has picked up, and we anticipate a 23%/35% revenue/EPS CAGR for FY12-14. As the new APQE test date approaches, F2Q cash revenues have jumped 41% & F3Q QTD numbers indicate an even more robust trend, reversing previous qtrs' unfavorable comps. Longer term, we believe DL's strengthened position will continue to assist its market share gain. In addition, considering DL's strong FCF generation, we believe the board is pro to another solid dividend following the two $0.48 dividends in last two years (8% yield). Our $8 target is based on 15x our FY14E EPS of $0.43 plus $1.55 cash/share.”

China Distance Education Holdings closed on Wednesday at $6.23.

Latest Ratings for DL

May 2017Credit SuisseDowngradesNeutralUnderperform
May 2016Credit SuisseDowngradesNeutralUnderperform
Jan 2016Credit SuisseAssumesNeutral

View More Analyst Ratings for DL
View the Latest Analyst Ratings

Posted-In: Ella Ji OppenheimerAnalyst Color Upgrades Analyst Ratings


Related Articles (DL)

View Comments and Join the Discussion!

Latest Ratings

ANGIAegis CapitalMaintains12.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at