Benzinga | Aug 30, 2021 03:13PM EDT

Why New Oriental Education Shares Are Rising

New Oriental Education & Tech Group (NYSE:EDU) shares are trading higher by 13.5% at $2.27 after analysts at Morgan Stanley upgraded their rating of the stock to Overweight and announced a $3.50 price target.

Shares of Chinese education stocks are volatile on continued regulatory-driven in the sector. Chinese education stocks have been trading lower in recent weeks following a policy from the Chinese government which may force for-profit education companies to become non-profit.

New Oriental Education is the largest well-established one-stop shopping private educational services provider in China. New Oriental Education offers overseas and domestic test preparations, nonacademic languages and services in vocational training.

New Oriental Education has a 52-week high of $19.97 and a 52-week low of $1.68.