TH Data Capital analyst Tian Hou raised his price target for New Oriental Education to $115 from $80 ahead of the company's fiscal Q3 results on April 23. New Oriental's Q3 revenue is likely to be better than consensus, Hou tells investors in a pre-earnings research note, citing his firm's data and analysis. The current major risk for education companies is government regulations, specifically for online education, as regulations for offline occurred in 2018, says the analyst. However, Hou expects demand for off-school education to "remain strong," whatever the policies may be. He maintains a Buy rating on New Oriental Education.