Global investment firm KKR & Co. Inc. (KKR) announced that it has agreed to acquire Teaching Strategies from Summit Partners. Teaching Strategies provides comprehensive early childhood education solutions, including curriculum and web-based assessment products.
The financial terms of the deal, which is expected to strengthen KKR’s education portfolio, have been kept under wraps.
A Partner at KKR, Webster Chua, said, “We are excited to be supporting the Teaching Strategies team as they continue to advance the field of early childhood education through research-based, technology-enabled resources that allow educators to be significantly more effective with far more students in delivering a better education.” (See KKR stock chart on TipRanks)
On July 21, Morgan Stanley analyst Michael Cyprys reiterated a Hold rating on the stock. The analyst, however, raised the price target to $66 from $64, which implies upside potential of 11.2% from current levels.
The stock has a Moderate Buy consensus based on 6 Buys and 3 Holds. The average KKR price target of $65.22 implies 9.8% upside potential from current levels. Shares have gained 66.9% over the past year.