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Fly News Breaks for April 26, 2019
TAL
Apr 26, 2019 | 08:49 EDT
Jefferies analyst Johnny Wong downgraded TAL Education to Hold from Buy and lowered his price target for the shares to $33 from $37. While the company's Q4 results were "exceptional, it will unlikely be repeated soon," Wong tells investors in a research note. Strong fiscal 2020 enrollment will be accompanied by increasing selling and costs, the analyst adds. Further, he believes TAL's renewed expansion of learning centers will also add to its margin drag.
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