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New Oriental Education & Technology Group (NYSE:EDU) was given an upgrade from a “hold” rating to a “buy” rating by StockNews.com on Wednesday. This comes after other analysts have issued favorable reports about the company, including Morgan Stanley giving an “overweight” rating and a $81.00 price objective. The firm’s stock price opened at $71.38 on Wednesday, which reflects a noticeable increase from its $30.75 low this year.

In terms of financials, New Oriental Education & Technology Group reported earnings per share of $1.13 for the quarter, surpassing the consensus estimate of $0.80 by $0.33. Additionally, the company’s revenue for the quarter exceeded analyst estimates. Despite the positive reports, New Oriental was not among the top-rated analysts’ picks. Institutional investors own 89.51% of the company’s stock.

Overall, New Oriental Education & Technology Group Inc operates private educational services under the New Oriental brand in China and has performed well in recent months based on the evaluation of various analysts.



Read more: New Oriental Education & Technology Group (NYSE:EDU) Upgraded to Buy by StockNews.com