Ambow Initiated At Neutral By Goldman Sachs

Goldman Sachs has published a research report on Ambow Education Holding Ltd. (NYSE: AMBO) and has initiated coverage with a Neutral rating.

In the report, Goldman Sachs writes "We initiate on Ambow with a Neutral rating and US$12 12-month target price. The company is one of the largest players in China's supplementary education market, focusing on the Better Schools and Better Jobs segments, which provide K-12 tutoring and career training services, respectively. While Ambow offers investors attractive exposure to favorable macro trends driving the education market, issues that we believe could restrict its valuation include substantial historical and ongoing acquisitions, a relatively young K-12 tutoring brand and ability to demonstrate organic growth and synergies for acquired schools."

Goldman Sachs has also issued a $12 price target on Ambow Education Holding Ltd., which closed Friday at $12.30.