TAL

Analyst target revisions (consensus repricing) • 2026-04-30

Bear case: Renewed regulatory tightening, persistent weak enrollments, or structural ARPU declines result in continued margin pressure and valuation compression, leaving shares near the bear target (10.78) or lower until visibility returns.

Break below $11 or thesis failure.

Bull case: Regulatory clarity and sustained enrollment reacceleration restore pricing power and scale, enabling margin expansion and multiple re-rating that supports the bull target (17.7). Realization is concentrated over 12–24 months and contingent on consistent enrollment momentum and positive analyst revisions.