Oppenheimer Maintains an 'Outperform' on New Oriental Education (EDU); Recent Dip Provides Buying Opportunity
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Price: $20.17 +4.51%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade EDU Now!
Oppenheimer maintains an 'Outperform' on New Oriental Education (NYSE: EDU) price target of $35.00.
Analyst, Ella Ji, said, "We remain positive on EDU despite its recent weakness, which may be attributable to concerns over: 1) China macro headwinds and 2 )the declining number of Gaokao test takers. We found both ungrounded. Our recent visit to EDU's L/Cs suggests summer enrollment stays strong and that EDU continues enjoying pricing power in its core offerings."
"The shares dropped 12% in the past 10 trading days vs. MSCI China's 3% gain. At 20x our FY13E EPS, we view current valuation attractive for a resilient, FCF-rich company with a 28% EPS CAGR." (Q4 EPS estimate raised from $0.14 to $0.15)
For an analyst ratings summary and ratings history on New Oriental Education click here. For more ratings news on New Oriental Education click here.
Shares of New Oriental Education closed at $24.00 yesterday, with a 52 week range of $20.61-$133.00.
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Analyst, Ella Ji, said, "We remain positive on EDU despite its recent weakness, which may be attributable to concerns over: 1) China macro headwinds and 2 )the declining number of Gaokao test takers. We found both ungrounded. Our recent visit to EDU's L/Cs suggests summer enrollment stays strong and that EDU continues enjoying pricing power in its core offerings."
"The shares dropped 12% in the past 10 trading days vs. MSCI China's 3% gain. At 20x our FY13E EPS, we view current valuation attractive for a resilient, FCF-rich company with a 28% EPS CAGR." (Q4 EPS estimate raised from $0.14 to $0.15)
For an analyst ratings summary and ratings history on New Oriental Education click here. For more ratings news on New Oriental Education click here.
Shares of New Oriental Education closed at $24.00 yesterday, with a 52 week range of $20.61-$133.00.
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