GSX - GSX Techedu gains after double upgrade to buy at Goldman on valuation

April, 28 2021 06:47 AM GSX Techedu Inc. American Depositary Shares three of which representing two Class A

GSX Techedu (GSX) rose 9% in premarket trading after the Chinese tutoring company was double upgraded to buy from sell at Goldman Sachs on valuation.With the recent stock correction the stock is now trading at 12m-fwd EV/sales of 3.1x, close to the low end since its IPO and at a similar multiple to online peers that are 1/4th the revenue size, according to Goldman analyst Christine Cho.Cuts PT to $60 from $70, though the new PT has 93% upside potential.On Monday, the company announced it would change its ticker symbol to GOTU.GSX is down 38% YTD at least partly hurt by the liquidation of Archegos Capital, which cause large blocks of GSX to be sold down.JPMorgan earlier this month raised GSX to neutral following selling pressure from Archegos Capital situation.GSX short interest 29% of free float.

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GSX Techedu gains after double upgrade to buy at Goldman on valuation

Company Name:	GSX Techedu Inc. American Depositary Shares three of which representing two Class A
Stock Symbol:	GSX
Market:	NYSE

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