© Reuters
UBS has upgraded its outlook on TAL Education Group (NYSE:) from Neutral to Buy on Tuesday, despite a projected one-year price target decrease of 7.27%. The upgrade follows a promising forecast for TAL’s annual revenue, which is expected to increase by 13.05%. Additionally, the non-GAAP EPS forecast for the education group stands at 0.12.
The bullish sentiment is further supported by the put/call ratio, which currently stands at 0.59. This indicates that the number of call options, typically associated with bullish market sentiment, significantly outweighs the number of put options.
However, institutional ownership in TAL has seen a decline, with a drop of 5.74%. The total shares owned by institutions have also decreased by 19.09%.
Among the institutions adjusting their stakes in TAL, Bank Of America has increased its holdings by 8.38%. In contrast, Krane Funds Advisors, KWEB – KraneShares CSI China Internet ETF, and Goldman Sachs Group (NYSE:) have all significantly reduced their stakes in the company.
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