New Oriental Education price target raised to $66 from $42 at Citi

Citi raised the firm’s price target on New Oriental Education to $66 from $42 and keeps a Buy rating on the shares. The firm transferred the shares to a new analyst. The analyst cites a “robust” recovery in overseas education demand post-pandemic, reduced market competition due to “double reduction” policies, strong growth in non-academic education sourced from the original K-9 segment, and the onset of the traditional peak summer season for the target raise. Citi calls New Oriental Education its top China education sector pick.