Goldman Sachs Downgrades New Oriental Education (EDU) to Neutral

Goldman Sachs downgraded New Oriental Education (NYSE: EDU) from Conviction Buy to Neutral with a price target of $35.

The firm said investor concerns over a lack of more significant margin expansion could persist. This, along with a lack of near-term catalysts, resulted in a re-rating of the stock.

Goldman remains fundamentally positive on EDU's brand leadership and growth potential within the China tutoring market.

For more ratings news on New Oriental Education click here and for the rating history of New Oriental Education click here.

Shares of New Oriental Education closed at $26.39 yesterday.

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