New Oriental Education price target raised to $87 from $71 at UBS

UBS analyst Felix Liu raised the firm’s price target on New Oriental Education to $87 from $71 and keeps a Buy rating on the shares. The company’s fiscal Q1 was a strong beat with the second-best Q1 profit, the analyst tells investors in a research note. The firm says there was strong momentum in new education business, which benefited from healthy demand/supply dynamics in non-academic tutoring.