Deutsche Bank Upgrades Xueda Education (XUE) to Buy

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Deutsche Bank upgraded Xueda Education (NYSE: XUE) from Hold to Buy with a price target of $3.80.

The firm comments, " Xueda Education Group (XUE) reported another solid beat this quarter. Given significantly better key operating metrics, top-line growth and margin recovery, along with an improved outlook on post-restructuring recovery, we are now more positive on the name. With the stock trading at cash levels, we believe the discount to our new fundamental valuation of US$3.80 (US$3.98) looks excessive, and hence we are upgrading the stock to a Buy from Hold.

For an analyst ratings summary and ratings history on Xueda Education click here. For more ratings news on Xueda Education click here.

Shares of Xueda Education closed at $2.68 yesterday, with a 52 week range of $2.41-$8.25.

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