31 July 2025 | 5:42PM HKT TAL Education Group (TAL): First Take: 1QFY26 revenue in line, profit strong beat; Buy Eunice Liu +852-2978-7472 | eunice.liu@gs.com Goldman Sachs (Asia) L.L.C. We are Buy-rated on the stock, with a 12-month SOTP-based TP of US$14. Exhibit 1: TAL 1QFY26 results snapshot | TAL | Actual | % VOV | GSe | | Consensu Act vs. Act vs. | | | --- | --- | --- | --- | --- | --- | --- | | | | | | S | GSe | Cons | | 1QFY26 net revenue (US$ mn) | 575 | 39% | 582 | 581 | -1% | -1% | | 1QFY26 non-G ...