Shares of 2U (NASDAQ:TWOU) rallied today, which can be attributed to an analyst upgrade. Indeed, Brett Knoblauch of Cantor Fitzgerald changed his rating on the stock from Hold to Buy. Interestingly, though, he lowered his price target to $7.40 per share. For reference, his previous price target was $9.50 per share.
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Knoblauch pointed to solid Q1 results, which saw management reaffirm guidance and also reduce leverage. He believes a worst-case scenario has already been factored in by investors and believes that the worst case is unlikely since the company has strong support from its customers.
Overall, Wall Street analysts have a consensus price target of $10.50 on TWOU stock, implying over 90% upside potential, as indicated by the graphic above.
