New Oriental Education & Technology Group Inc. (EDU) Forms Double Top; Strong Momentum for Buyers Coming

June 14, 2018 - By Kenneth Lin

The chart of New Oriental Education & Technology Group Inc. (EDU) shows a double top with $107.09 target or 3.00 % above today’s $103.97 share price. The 9 months chart pattern indicates low risk for the $16.44 billion company. It was reported on Jun, 14 by Finviz.com. If the $107.09 price target is reached, the company will be worth $493.20M more. Double tops are rare but powerful chart patterns.

The stock increased 1.12% or $1.15 during the last trading session, reaching $103.97. About 935,374 shares traded. New Oriental Education & Technology Group Inc. (NYSE:EDU) has risen 38.68% since June 14, 2017 and is uptrending. It has outperformed by 26.11% the S&P500.

New Oriental Education & Technology Group Inc. (NYSE:EDU) Ratings Coverage

Among 5 analysts covering New Oriental Education (NYSE:EDU), 2 have Buy rating, 1 Sell and 2 Hold. Therefore 40% are positive. New Oriental Education has $116 highest and $72 lowest target. $110’s average target is 5.80% above currents $103.97 stock price. New Oriental Education had 9 analyst reports since January 4, 2018 according to SRatingsIntel. J.P. Morgan upgraded the stock to “Hold” rating in Monday, March 5 report. The firm has “Buy” rating given on Wednesday, January 24 by Jefferies. As per Tuesday, April 24, the company rating was maintained by Jefferies. The firm has “Neutral” rating by JP Morgan given on Thursday, April 26. The firm earned “Underperform” rating on Thursday, May 24 by CLSA. As per Wednesday, January 24, the company rating was maintained by JP Morgan. The stock of New Oriental Education & Technology Group Inc. (NYSE:EDU) earned “Neutral” rating by JP Morgan on Monday, March 5. The firm has “Neutral” rating by JP Morgan given on Tuesday, May 29.

New Oriental Education & Technology Group Inc. provides private educational services under the New Oriental brand in the PeopleÂ’s Republic of China. The company has market cap of $16.44 billion. The firm operates through Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour divisions. It has a 57.44 P/E ratio. It offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the PeopleÂ’s Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

New Oriental Education & Technology Group Inc. (NYSE:EDU) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: