Morgan Stanley Starts New Oriental Education (EDU) at Overweight, Top Pick
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Morgan Stanley initiates coverage on New Oriental Education (NYSE: EDU) with a Overweight rating and a price target of $100.00.
Analyst Sheng Zhong says the stock is one the top picks for Chinese education names, which were initiated upon Thursday after the close. The analyst says the market should be appreciating the higher-quality growth from utilization rates and notes that overseas test preparation resumes growth momentum.
Shares of New Oriental Education closed at $83.22 yesterday.
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