Jefferies downgraded New Oriental Education (NYSE: EDU) from Buy to Hold with a price target of $24.00 (from $35.00).

Analyst Clara Fan notes, "4Q14 operating profit missed. 1Q15 guidance was weaker than expected. Multiple challenges ahead. Uncertain timing and effect of online initiatives. Increased margin risks from increased investments, slowdown in enrollment growth and increased marketing efforts."

The firm cut FY 2014 EPS from $2.11 to $1.84.

For an analyst ratings summary and ratings history on New Oriental Education click here. For more ratings news on New Oriental Education click here.

Shares of New Oriental Education closed at $21.01 yesterday.