Why New Oriental Education & Technology Group Soared 13% Higher on Tuesday
The second trading day of the week was a good one for New Oriental Education & Technology Group (NYSE: EDU) shareholders. On the back of an analyst's recommendation upgrade, their stock surged more than 13% higher in price. That absolutely crushed the S&P 500's (SNPINDEX: ^GSPC) 1.1% increase.That move was made by J.P. Morgan, in the person of analyst DS Kim. That morning, Kim changed his recommendation on New Oriental to overweight (buy, in other words) from his previous neutral. His new price target is $62 per share, which, even after the Tuesday price pop, is almost 12% over the stock's current level. Image source: Getty Images.Continue reading
The second trading day of the week was a good one for New Oriental Education & Technology Group (NYSE: EDU) shareholders. On the back of an analyst's recommendation upgrade, their stock surged more than 13% higher in price. That absolutely crushed the S&P 500's (SNPINDEX: ^GSPC) 1.1% increase.
That move was made by J.P. Morgan, in the person of analyst DS Kim. That morning, Kim changed his recommendation on New Oriental to overweight (buy, in other words) from his previous neutral. His new price target is $62 per share, which, even after the Tuesday price pop, is almost 12% over the stock's current level.
Image source: Getty Images.
