DJ China After-School Tutoring Industry's Long-Term Prospect Looks Robust -- Market Talk
0817 GMT - China's after-school tutoring industry's long-term prospect looks robust, Goldman Sachs says. Buy-rated New Oriental Education & Technology and TAL Education Group are GS's preferred stock picks. The former's "Online-Merge-Offline" initiatives could further drive market consolidation and profitability, while the latter's entry into 20 new cities in 1Q FY 2021 increases the potential for capacity expansion. GS raises the American Depositary Receipt's target price for New Oriental to $168 from $149 and that for TAL Education to $88 from $75. It also lifts the ADR's target price for neutral-rated GSX Techedu to $84 from $57 and the H-shares' target price for sell-rated Koolearn Technology to HK$31 from HK$29. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
August 04, 2020 04:17 ET (08:17 GMT)
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