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Benzinga
Benzinga
Business
Anusuya Lahiri

Morgan Stanley Upgrades Youdao; Sees 78% Upside

DAO Morgan Stanley NYSE TAL China TAL Education Group Youdao Inc
  • Morgan Stanley analyst Sheng Zhong upgraded Youdao Inc (NYSE:DAO) to Overweight from Equal Weight with a price target of $15, up from $13. The price target implies an upside of 77.8%.
  • Demand for learning services in China remains strong, and market leaders are "building advantages in their respective areas," Zhong tells investors in a research note. 
  • The analyst says the worst of the regulatory clampdown is now over, stabilizing operations. 
  • Sentiment towards the space remains low, but "the worst is over and quality names are undervalued," writes Zhong. 
  • The analyst upgraded Youdao and TAL Education Group (NYSE:TAL) while keeping an Overweight rating on New Oriental Education & Technology Group Inc (NYSE:EDU).
  • Price Action: DAO shares traded higher by 6.18% at $8.94 on the last check Monday.
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