Jefferies Suspends Coverage on New Oriental Education
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Price: $55.80 +1.62%
Rating Summary:
16 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Earlier, Jefferies suspended coverage of New Oriental Education (NYSE: EDU) following the company's announcement on July 17th that SEC has issued a formal order of investigation into the company in relation to the basis of consolidation of its VIE and its wholly-owned subsidiaries.
"We no longer have an adequate basis to conduct fundamental driven valuation analysis on EDU, given the current situation," the firm said.
"We no longer have an adequate basis to conduct fundamental driven valuation analysis on EDU, given the current situation," the firm said.
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