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UPDATE: Piper Jaffray Raises PT to $27 on New Oriental Education & Technology Group

Related EDU
Earnings Scheduled For October 24, 2014
Top 4 Mid-Cap Stocks In The Education & Training Services Industry With The Highest Operating Margin

Piper Jaffray reiterated its Overweight rating on New Oriental Education & Technology Group (NYSE: EDU) and raised its price target from $22 to $27 on lack of SEC objections to consolidation of a related entity.

Piper Jaffray commented, "On Friday Oct. 12, after the market close, New Oriental filed its 20-F and indicated the SEC has no objection to the company's consolidation of its variable interest entity (VIE) into New Oriental's consolidated financial statements, thus removing what we believe is the primary overhang on the stock. Focus should now shift to the company's Aug quarter fundamentals, which we feel tracked to expectations. We reiterate our OW rating on EDU shares and raise our PT from $22 to $27 (22.5x FY13E PF EPS)."

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

Latest Ratings for EDU

DateFirmActionFromTo
Oct 2014Goldman SachsDowngradesNeutralSell
Aug 2014Credit SuisseInitiates Coverage onOutperform
Jul 2014MacquarieDowngradesOutperformNeutral

View More Analyst Ratings for EDU
View the Latest Analyst Ratings

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