UPDATE - Nomura Securities Upgraded New Oriental Education (EDU) to Buy

UPDATE - Nomura Securities upgraded New Oriental Education (NYSE: EDU) from Neutral to Buy. PT $34.

Nomura analyst, Jin Yoon, said, "Following a transfer of coverage, we revisit our prior assumptions on the company and find that the growth story has strengthened. Critically, the product mix change with increased focus on K-12 underpins our upward revisions to revenue and earnings forecasts. Our DCF-based target price (methodology unchanged, assuming a WACC of 8.3% and terminal growth of 2%) rises to USD34 (from a post-split TP of USD24) and, with nearly 20% upside potential, we upgrade the stock to Buy."

To see more ratings changes on EDU, Click Here

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