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UPDATE: JG Capital Initiates Coverage on New Oriental with Overweight Rating, $24 PT

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Earnings Scheduled For January 20, 2015
Earnings Scheduled For October 24, 2014

In a report published Monday, JG Capital initiated coverage on New Oriental Education & Technology Group (NYSE: EDU) with an Overweight rating and $24.00 price target.

JG Capital noted, “EDU is the best way to play the growth in China's private education market. Now that the SEC has found no objections in EDU's reporting structure, we think EDU's stock price is poised for a significant recovery. We think EDU will continue to benefit from the overall economic growth and the demand for high-quality private education and English language training in China. We initiate coverage on EDU with an Overweight rating and a price target of USD $24.00, which equates to a P/E of 16x our 14E EPS of $1.49.”

New Oriental Education & Technology Group closed on Friday at $17.14.

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: JG CapitalAnalyst Color Initiation Analyst Ratings

 

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