TAL Education price target lowered to $12.50 from $14.90 at BofA

BofA lowered the firm’s price target on TAL Education (TAL) to $12.50 from $14.90 and keeps a Buy rating on the shares. The firm believes quarterly margin volatility is the result of rising contribution from learning device, but with higher seasonality. The firm lowered its FY26-FY27 adjusted earnings per share estimates on higher topline growth, but lower margins, adding that it cut its price target 16% accordingly.