TAL Education cut to neutral at Nomura on lack of positive catalysts

Apr. 23, 2021 8:11 AM ETTAL Education Group (TAL), EDUEDU, TALBy: Joshua Fineman, SA News Editor
  • TAL Education (NYSE:TAL) was cut to neutral from buy at Nomura, which cited a lack of positive catalysts and a fair valuation.
  • TAL's valuation appears to be fair with limited upside and potential for consensus earnings cut, according to Nomura analyst Jessie Xu. The price target remains $68.
  • The Chinese education company also lacks positive catalysts without a "clear timeline" for policy clarifications on tutoring in China.
  • Nomura prefers New Oriental Education (NYSE:EDU) in the China Education space.
  • TAL yesterday reported results that showed increased revenue, wider losses.

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