Market Overview

UPDATE: Oppenheimer Downgrades New Oriental Education & Technology Group to Perform

Share:
Related EDU
Earnings Scheduled For January 20, 2015
Earnings Scheduled For October 24, 2014

Oppenheimer lowered its rating on New Oriental Education & Technology Group (NYSE: EDU) from Outperform to Perform.

Oppenheimer noted, "We are downgrading EDU to Perform and removing our $35 PT. We think the SEC investigation brings considerable uncertainties and would remain a major overhang. In addition, the overseas test prep sector's enrollment declined in a growing market, and management reduced revenue guidance to +25-30% from +30-35% while expecting continued margin pressure. We expect the stock to remain range-bound, and await positive catalysts such as a clean SEC conclusion and re-acceleration of bottom-line growth; we also trim estimates."

New Oriental Education & Technology Group closed at $14.62 on Tuesday.

Latest Ratings for EDU

DateFirmActionFromTo
Jan 2015JefferiesMaintainsHold
Oct 2014Goldman SachsDowngradesNeutralSell
Aug 2014Credit SuisseInitiates Coverage onOutperform

View More Analyst Ratings for EDU
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (EDU)

Around the Web, We're Loving...

Get Benzinga's Newsletters