Edvantage Group Holdings Ltd

00382: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 7.50	Hkdqfm	Bggjfshs

Transfer of Coverage on Edvantage Group; Cutting FVE to HKD 6.10

Cheng Wang

Jun 30, 2022

We transfer coverage and take a fresh look at Edvantage Group, leading to a cut in our fair value estimate to HKD 6.10 from HKD 13.00 per share. The cut is attributable to lower growth and margin expectations. We keep our narrow moat and stable moat trend rating. The shares are trading at about a 60% discount to our fair value estimate due to negative sentiment toward the education sector, which we think is not warranted.

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