Chinese TAL Education Group: Expect Strong FY1Q17 on Robust Enrollment and Course Growth; Increase in Capacity and Price Can Sustain Growth in FY2017; Maintain BUY and Raise PT to $68

  • Date: Jul 23, 2016
  • Industry:Education
  • Company:XRS
  • Partial Report:Name: XRS F1Q17 Preview 07222016_FC.pdf - Size: 0.35M - Free Download
  • Chinese TAL Education Group: Expect Strong FY1Q17 on Robust Enrollment and Course Growth; Increase in Capacity and Price Can Sustain Growth in FY2017; Maintain BUY and Raise PT to $68

XRS will report FY1Q17 results before the market opens on Tuesday, July 26, 2016
with an 8:00AM EST conference call. Based on our proprietary data, we believe
XRS’s FY1Q17 results are likely to outperform consensus expectation driven by
strong growth in total course offered and course attendees offset by the decline in
ASP. The growth in attendees, we believe, is mainly driven by the growth in its
capacity. As the capacity continues to increase, we also believe that the company
is likely to have high growth in fiscal year 2017. Therefore, we maintain our BUY
rating and raise our PT to $68.00 from $48.00.

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