New Oriental Education (EDU) Facing FOREX Headwinds, PT To $75 At Macquarie

Macquarie analyst, Wendy Huang, reiterated her Outperform rating on shares of New Oriental Education (NYSE: EDU) but cut her PT to $75 on FOREX weakness. For the quarter, the analyst expects 24% YoY revenue growth for 2Q FY19 when the company reports financial results on January 22nd.

The analyst stated "we believe the company will gain the advantage of further penetrating the tier-2/tier-3 K12 AST market and capture growth. Meanwhile, EDU experienced aggressive expansion during FY18 and started to expand in a more disciplined manner, which should lead to a GPM
recovery and improved utilization in FY20". No change to the price target of $75.

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 $60.28 yesterday.

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