KKR (KKR) has completed its fourth investment in the educational and workforce development space. An investment in EQuest Education Group through the KKR Global Impact Fund is the latest, affirming the company’s commitment towards Lifelong Learning.
The KKR Global Fund invests in companies that contribute towards the United Nations Sustainable Development Goals. EQuest meets the threshold as it currently operates a robust education portfolio serving more than 110,000 students each year.
The KKR investment will support EQuest in its push to offer students in Vietnam affordable access to a world-class education. The investment is part of the KKR Asia strategy that seeks to support growth in the country’s key sectors. (See KKR stock analysis on TipRanks).
“As Vietnam continues to elevate on the world’s economic stage, access to affordable, high-quality education solutions plays an important role in meeting the nation’s objectives. We are excited to invest in EQuest and to support aspiring Vietnamese entrepreneurs like Toan – as well as EQuest’s talented team,” said Ashish Shastry, KKR Head of Southeast Asia.
As part of the investment, Annabelle Vultee is to join the EQuest board. She joins the firm with extensive education experience spanning the U.S and China.
Oppenheimer analyst Chris Kotowski reiterated a Buy rating on the stock and set a price target of $64 after the company reported Q1 results that were in line with expectations.
“We think there is significant upside to distributable earnings over time as there is ample room for the real asset and public market platforms to grow, balance sheet investment to be monetized and positive outlook regarding base management fee growth on funds associated with the next-generation flagships and other associated strategies,” Kotowski wrote in a research note to investors.
Consensus among analysts on Wall Street is a Moderate Buy based on 8 Buy and 3 Hold ratings. The average analyst price target of $64 implies around 15% upside potential over the next 12 months.
KKR scores a 9 out of 10 on TipRanks’ Smart Score rating system, suggesting it is well-positioned to outperform the overall market.
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