Fly News Breaks for January 28, 2020
Jan 28, 2020 | 12:15 EDT
Barrington analyst Alexander Paris lowered his price target for K12 to $30 from $40 following the company's fiscal Q2 results and keeps an Outperform rating on the shares. The stock selloff today is likely due to lower near-term earnings expectations resulting from the impact of purchase accounting and negative EBITDA associated with the Galvanize acquisition. At current levels, the K12 is trading below its larger cap postsecondary education peer group, Paris tells investors in a research note. His Outperform rating reflects positive macro trends and "strong company execution."
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