Goldman Sachs analyst Christine Cho upgraded TAL Education to Buy from Neutral with a price target of $50, up from $38. The analyst notes that the company's management implemented meaningful changes in its offline and online strategy, forecasting its flagship Peiyou business to drive accelerated operating profit growth of 49% in FY20-23E. Cho also cites TAL Education's increasing focus on penetrating China's lower-tier cities after its "successful expansion" in the top-tier cities, with 10% market share in Beijing and about 40% of total learning centers being in tier-1 cities.

Reports Q4 revenue $429.56M, consensus $389.78M. "We ended the 2024 fiscal year with continued development across our core businesses, each delivering distinct value propositions to our customers." said Alex Peng, TAL's president and CFO.