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Fly News Breaks for March 5, 2018
EDU
Mar 5, 2018 | 06:23 EDT
JPMorgan analyst Leon Chik upgraded New Oriental Education to Neutral and raised his price target for the shares to $83 from $72. The analyst attributes the 10% pullback in shares last week to concerns over tighter regulations on tutorials in China. He believes, however, that large operators like New Oriental can comply with government regulations better than their smaller rivals The company can continue to obtain new tutorial licenses and grow at a "rapid pace," Chik tells investors in a research note.