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BEDU

Bright Scholar

$11.24

-3.36 (-23.01%)

, EDU

New Oriental Education

$85.90

-1.07 (-1.23%)

11:00
08/13/18
08/13
11:00
08/13/18
11:00

Bright Scholar sinks after China proposes change to private education rules

Shares of Chinese tutoring stocks are moving lower after China's Ministry of Justice posted a draft amendment to the country's private education rules. The agency is seeking feedback before September 10. A clause added in the draft bans companies from controlling non-profit private schools through mergers and acquisitions, Bloomberg reports, citing Terry Li, an analyst with Phillip Capital. Shares of Bright Scholar Education (BEDU) are down 23% to $11.26 in morning trading. Also trading lower shares of New Oriental Education (EDU), Rise Education (REDU), RYB Education (RYB) and TAL Education (TAL). Reference Link

BEDU

Bright Scholar

$11.24

-3.36 (-23.01%)

EDU

New Oriental Education

$85.90

-1.07 (-1.23%)

REDU

Rise Education

$12.75

-0.05 (-0.39%)

RYB

RYB Education

$20.75

-0.83 (-3.85%)

TAL

TAL Education

$33.97

-0.63 (-1.82%)

  • 16

    Aug

  • 28

    Aug

  • 10

    Sep

BEDU Bright Scholar
$11.24

-3.36 (-23.01%)

06/29/18
MSCO
06/29/18
UPGRADE
MSCO
Overweight
Bright Scholar upgraded to Overweight from Equal Weight at Morgan Stanley
06/29/18
06/29/18
NO CHANGE

Morgan Stanley shakes up China Education ratings, ups Bright Scholar, cuts TAL
As previously reported, Morgan Stanley analyst Sheng Zhong upgraded Bright Scholar (BEDU) to Overweight from Equal Weight and downgraded TAL Education (TAL) to Equal Weight from Overweight, telling investors in a note on the China Education sector that she now prefer stocks with a balanced growth outlook and valuation given China's regulatory and operational uncertainties. The analyst, who still prefers companies focused on after-school tutoring, called Rise Education (REDU) and New Oriental Education (EDU) her top picks in the space. Zhong also downgraded Four Seasons Education (FEDU) to Equal Weight and cut her rating on OneSmart Education (ONE) to Equal Weight from Overweight.
01/08/18
MSCO
01/08/18
DOWNGRADE
MSCO
Equal Weight
Bright Scholar downgraded to Equal Weight from Overweight at Morgan Stanley
08/25/17
08/25/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Walgreens Boots Alliance (WBA) initiated with a Buy and CVS Health (CVS) and Fred's (FRED) initiated with a Hold at Loop Capital. 2. Adobe (ADBE), Intuit (INTU), GoDaddy (GDDY) initiated with a Buy at Jefferies, while Mindbody (MB) was initiated with a Hold. 3. New Oriental Education (EDU), Bright Scholar (BEDU) and TAL Education (TAL) initiated with Overweight ratings at Morgan Stanley. 4. WellCare (WCG) coverage assumed with an Overweight at Cantor. 5. Dollar Tree (DLTR) and Dollar General (DG) reinstated with Buy ratings at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EDU New Oriental Education
$85.90

-1.07 (-1.23%)

07/26/18
JPMS
07/26/18
UPGRADE
Target $113
JPMS
Overweight
New Oriental Education upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Leon Chik upgraded New Oriental Education to Overweight and raised his price target for the shares to $113 from $102. The company's Q4 results are better than they look, Chik tells investors in a post-earnings research note.
06/14/18
JEFF
06/14/18
NO CHANGE
Target $42.5
JEFF
Buy
Jefferies keeps Buy rating on TAL, says fraud claims are serious
While Muddy Waters' report did not relate to TAL Education's (TAL) core businesses, the fraud claims are serious nonetheless and would cast concerns over the company's integrity should management be unable to provide a satisfactory explanation, Jefferies analyst Johnny Kin Man Wong tells investors in a research note. The analyst expects share price volatility and notes that New Oriental Education's (EDU) stock price fell from $22.26 to $9.47, or 57.5%, over the course of two days when similar short reports arose in July 2012. Wong has a Buy rating on TAL Education with a $42.50 price target.
05/24/18
LYON
05/24/18
DOWNGRADE
LYON
Underperform
New Oriental Education downgraded to Underperform from Outperform at CLSA
REDU Rise Education
$12.75

-0.05 (-0.39%)

11/14/17
MSCO
11/14/17
INITIATION
Target $15.5
MSCO
Overweight
Rise Education initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Sheng Zhong started Rise Education with an Overweight rating and $15.50 price target, calling it a "leading player" in China's fast-growing market for junior English language teaching. Zhong predicts the company can grow revenue and non-GAAP net profit at 2017-19 CAGRs of 30% and 74%, respectively.
06/07/18
UBSW
06/07/18
INITIATION
Target $18.72
UBSW
Buy
Rise Education initiated with a Buy at UBS
UBS initiated Rise Education with a Buy and $18.72 price target.
RYB RYB Education
$20.75

-0.83 (-3.85%)

01/08/18
MSCO
01/08/18
DOWNGRADE
MSCO
Equal Weight
RYB Education downgraded to Equal Weight from Overweight at Morgan Stanley
05/16/18
FBCO
05/16/18
DOWNGRADE
FBCO
Neutral
RYB Education downgraded to Neutral from Outperform at Credit Suisse
07/23/18
JEFF
07/23/18
INITIATION
Target $27
JEFF
Buy
RYB Education initiated with a Buy at Jefferies
Jefferies analyst Johnny Kin Man Wong started RYB Education with a Buy rating and $27 price target. The worst effects of the student maltreatment incident should be felt in RYB's first half of 2018 earnings, and the company will recover, Man Wong tells investors in a research note. He believes RYB is well positioned to capture more of the early childhood education market, the fastest growing segment of the Chinese education market.
TAL TAL Education
$33.97

-0.63 (-1.82%)

07/25/18
07/25/18
NO CHANGE

Muddy Waters claims TAL Education is misleading investors about Peiyou business
Muddy Waters states: "TAL's core Peiyou business appears to be in decline. We believe that Peiyou offline Q3 revenue YoY growth was likely negative, despite TAL CFO Rong Luo stating the growth rate was "healthy" and implying it was in line with small class revenue growth of 52.4%. We also suspect that Peiyou online is not doing well. Peiyou online Q4 sequential growth seems to have been at best high single digit, and quite possibly negative."
06/29/18
MSCO
06/29/18
DOWNGRADE
MSCO
Equal Weight
TAL Education downgraded to Equal Weight from Overweight at Morgan Stanley
06/27/18
EGHT
06/27/18
UPGRADE
EGHT
Buy
TAL Education upgraded to Buy from Accumulate at 86 Research

TODAY'S FREE FLY STORIES

BX

Blackstone

$39.78

1.99 (5.27%)

, KKR

KKR

$28.25

0.18 (0.64%)

15:27
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15:27
Hot Stocks
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KKR

KKR

$28.25

0.18 (0.64%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
09/21/18
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ZAYO

Zayo Group

$35.11

0.02 (0.06%)

15:14
09/21/18
09/21
15:14
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15:14
Conference/Events
Zayo Group management to meet with JPMorgan »

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SHY

iShares 1-3 Year Treasury Bond

$83.05

0.015 (0.02%)

15:10
09/21/18
09/21
15:10
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15:10
Options
Four-week puts in iShares 1 to 3 Year Treasury Bond ETF »

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WOPEY

Woodside Petroleum

$0.00

(0.00%)

15:06
09/21/18
09/21
15:06
09/21/18
15:06
Conference/Events
Woodside Petroleum management to meet with JPMorgan »

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STM

STMicroelectronics

$18.90

-0.15 (-0.79%)

15:05
09/21/18
09/21
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09/21/18
15:05
Options
STMicroelectronics call volume above normal and directionally bullish »

Bullish option flow…

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15:05
09/21/18
09/21
15:05
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15:05
General news
Treasury Closing Summary: »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$292.39

0.1826 (0.06%)

14:59
09/21/18
09/21
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14:59
Periodicals
Hassett: U.S. close to trade agreement with Mexico but not Canada, Reuters says »

White House economic…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$292.39

0.1826 (0.06%)

03/08/13
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TM

Toyota

$124.67

-0.295 (-0.24%)

, GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

14:57
09/21/18
09/21
14:57
09/21/18
14:57
Periodicals
Breaking Periodicals news story on Toyota, Alphabet Class A, Alphabet »

Toyota agrees to allow…

TM

Toyota

$124.67

-0.295 (-0.24%)

GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

GOOG

Alphabet

$1,172.77

-14.31 (-1.21%)

03/08/13
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ZION

Zions Bancorp

$52.64

0.15 (0.29%)

14:50
09/21/18
09/21
14:50
09/21/18
14:50
Options
Timely call buying in Zions Bancorp »

Timely call buying in…

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14:50
09/21/18
09/21
14:50
09/21/18
14:50
General news
Treasury Action: supply is heavy in the busy week ahead »

Treasury Action: supply…

NGG

National Grid

$52.16

-0.25 (-0.48%)

14:49
09/21/18
09/21
14:49
09/21/18
14:49
Conference/Events
National Grid management to meet with JPMorgan »

Meetings to be held New…

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  • 24

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PYPL

PayPal

$91.20

0.61 (0.67%)

14:44
09/21/18
09/21
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14:44
Hot Stocks
PayPal confirms ending business relationship with Infowars »

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  • 26

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OSTK

Overstock.com

$27.20

0.65 (2.45%)

14:39
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09/21
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14:39
Hot Stocks
Law firm says Overstock.com loses Delaware trial over gift cards »

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PCG

PG&E

$47.19

0.26 (0.55%)

, EIX

Edison International

$68.79

0.98 (1.45%)

14:35
09/21/18
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Periodicals
California governor signs wildfire bill, LA Times reports »

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PCG

PG&E

$47.19

0.26 (0.55%)

EIX

Edison International

$68.79

0.98 (1.45%)

03/08/13
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IVZ

Invesco

$24.35

-0.065 (-0.27%)

14:31
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Periodicals
Breaking Periodicals news story on Invesco »

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MNK

Mallinckrodt

$30.17

0.42 (1.41%)

14:30
09/21/18
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Options
Sweep buyers of Mallinckrodt calls as shares spike in afternoon action »

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  • 01

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BPY

Brookfield Property

$20.92

0.39 (1.90%)

, BBU

Brookfield Business Partners

$44.19

-0.07 (-0.16%)

14:25
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Conference/Events
Brookfield to hold investor day »

Investor Day to be held…

BPY

Brookfield Property

$20.92

0.39 (1.90%)

BBU

Brookfield Business Partners

$44.19

-0.07 (-0.16%)

BAM

Brookfield

$44.20

0.75 (1.73%)

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14:25
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General news
Action Economics Survey results »

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PYPL

PayPal

$91.23

0.64 (0.71%)

14:22
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14:22
Periodicals
PayPal no longer doing business with Infowars, Verge reports »

PayPal no longer intends…

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  • 26

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EWC

iShares MSCI Canada Index

$29.05

0.02 (0.07%)

14:20
09/21/18
09/21
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14:20
Options
NAFTA hedge in iShares Canada ETF »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
09/21/18
09/21
14:17
09/21/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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EDNT

Edison Nation

$7.11

(0.00%)

14:16
09/21/18
09/21
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14:16
Hot Stocks
Breaking Hot Stocks news story on Edison Nation »

Louis Foreman reports…

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PCG

PG&E

$47.02

0.09 (0.19%)

14:16
09/21/18
09/21
14:16
09/21/18
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Periodicals
Breaking Periodicals news story on PG&E »

California governor signs…

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