New Oriental Education & Tech. Group, Inc. (EDU) Coverage Initiated With A Neutral Rating
By Benzinga Staff
February 05, 2010 3:24 PM
February 05, 2010 3:24 PM
Cowen and Company (NASDAQ: COWN) has initiated coverage for New Oriental Education & Tech. Group, Inc. (NYSE: EDU) with a Neutral rating. The company is a leading player in the Chinese private education market.
The company’s share currently trades at a premium of 45% to its peer group. According to Cowen, the current valuation reflects the company’s strong fundamentals.
Cowen expects the stock of New Oriental Education & Tech. Group, Inc. to perform in line with market over the next 12 months. According to Cowen, its outlook on the company will be more positive if the valuation is a lot more attractive than the current levels, and there is significant margin expansion.
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