Jefferies Reiterates a 'Buy' on TAL Education (XRS); Better-Than-Expected Enrollment

Jefferies reiterates a 'Buy' on TAL Education Group American De (NYSE: XRS) price target of $11.00 (from $13.50)

Analyst, Cynthia Meng, said, "1Q13 results beat driven by better-than-expected enrollment and margins with no net additions in centers in the quarter. TAL plans to focus on improving existing center utilization and controlling its pace in opening new centers. We adjust FY13E net profit down by 10.9% due to investment in operational systems and RMB exchange loss. Reiterate Buy and revised down PT by 19% to USD11 due to sector related derating."

For an analyst ratings summary and ratings history on TAL Education Group American De click here. For more ratings news on TAL Education Group American De click here.

Shares of TAL Education Group American De closed at $7.92 yesterday.

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