UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on TAL International Group on Strong Fundamentals
In a report published Friday, J.P. Morgan reiterated its Overweight rating on TAL International Group (NYSE: TAL), and raised its price target from $42.00 to $50.00.
J.P. Morgan noted, “TAL closed up roughly 4% on Thursday, following a solid 4Q12 earnings report. Management noted a stable (to positive) forward outlook at the conference call earlier that morning. Adjusted EPS was $1.04 per share, beating our estimate of $0.95 and consensus of $0.95. Adjusted for a change in depreciation assumptions that contributed $0.10, results were in line with our expectations. We maintain our Overweight rating on the shares, in light of strong fundamentals and a favorable operating environment (16% Y/Y leasing revenue growth, coupled with historically high utilization and container pricing).”
TAL International Group closed on Thursday at $45.61.
Latest Ratings for TAL
|Oct 2014||Keefe Bruyette & Woods||Maintains||Market Perform|
|Oct 2014||FBR Capital||Maintains||Market Perform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.