As previously reported, Nomura upgraded New Oriental Education to Buy from Neutral and raised its price target to $58 from $46. Analyst Andrew Orchard recommends using weakness partly due to allegations of academic fraud made by Reuters against the company's overseas consulting business as a buying opportunity. Orchard said New Oriental's Fall schedules indicate that its core K-12 after-school tutoring business is thriving. Given low market share but fast rates of market share improvements, the analyst expects New Oriental's K-12 small class enrollments to rise 126% over the next three years.