AlenCiken

REDU rising higher after an analyst offered a bullish outlook.

NASDAQ:REDU   RISE Education Cayman Ltd
REDU rising higher after an analyst offered a bullish outlook.

Since the coronavirus was first reported in China, RISE Education was impacted in the first quarter, with new-student enrollment plummeting. But enrollment was recovering quickly in the second quarter, up 149% quarter over quarter.

Now that the company has reported Q2 results, a Morgan Stanley analyst raised the price target for RISE stock to $6 per share.

While RISE Education is recovering from Q1, it still has a long way to go. In Q2, revenue was down 55% year over year, and new student enrollment was down 39%. Furthermore, growth was challenged even before COVID-19. For example, new student enrollment was only up 12% from 2018 to 2019.

https://www.fool.com/investing/2020/08/1...