Fly News Breaks for January 16, 2020
Jan 16, 2020 | 09:11 EDT
TH Data Capital analyst Tian Hou estimates New Oriental Education's (EDU) revenue in its fiscal second quarter is likely to be higher than consensus given that the growth of K-12 course offerings was "strong" during the quarter. Additionally, Hou notes that the Chinese government imposed several policies in the off-school tutoring sector that have caused "tons of smaller vendors" to be driven out of business and allowed vendors like New Oriental and TAL Education (TAL) to become market consolidators. Hou keeps a Buy rating on New Oriental shares and raised the price target on the stock to $160 from $130 ahead of the company's report on January 20.
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