FMP
Jan 25, 2024 9:35 PM - Davit Kirakosyan(Last modified: Jan 26, 2024 3:25 AM)
Image credit: FMP
JPMorgan analysts upgraded TAL International (NYSE:TAL) from Neutral to Overweight and increased their price target from $10.00 to $15.00 following the company’s reported strong Q4 results.
The upgrade is influenced by the strong performance and outlook of New Oriental Education (EDU), which they believe indicates a favorable environment in the post-policy tutoring business, characterized by advantageous supply/demand dynamics and a stable policy setting. The analysts suggest that TAL International may be experiencing a shift to what they term 'supernormal' growth, as evidenced by the company's recent performance.
Consequently, the analysts revised TAL's revenue forecasts upwards for the next three years by over 30%, positioning these estimates at the highest among Street forecasts. They anticipate that TAL's earning potential will continue to surprise the market in the coming years.
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