UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on TAL International Group

In a report published Friday, Jefferies & Company reiterated its Hold rating on TAL International Group

, but lowered its price target from $37.00 to $35.00. Jefferies noted, “Despite an attractive yield and cheap valuation, we reiterate our Hold rating due uncertainty regarding global trade growth, declining utilization, and moderating container prices.” TAL International Group closed on Thursday at $33.03.