As previously reported, Morgan Stanley downgraded New Oriental Education (EDU) to Equal Weight from Overweight with a price target of $52, down from $83. Q2 revenue beat expectations, but profit missed and management gave “weak” guidance for Q3 and guided down revenue and operating margins for FY25, the analyst tells investors. The “weak” guidance and reduced F25 outlook imply a worse-than-expected impact from the weak macro environment, the analyst added.
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