New Oriental Education price target lowered to $68.60 from $82.90 at BofA

BofA lowered the firm’s price target on New Oriental Education (EDU) to $68.60 from $82.90 but keeps a Buy rating on the shares. The company’s Q2 results topped guidance but its Q3 outlook was below consensus due to the impact from consumption downgrade and FX, the analyst tells investors in a research note. BofA adds however that the stock already prices in its negatives, noting that the firm remains positive on the shares’ risk-reward.