2U price target lowered to $9 from $11 at BMO Capital

BMO Capital analyst Jeffrey Silber lowered the firm’s price target on 2U to $9 from $11 after its Q1 earnings miss but keeps an Outperform rating on the shares. The company sounded more bullish on Degree Program offerings, citing some new enrollment green shoots and retention becoming evident next year, and its adjusted free cash flow was positive for the first time ever, the analyst tells investors in a research note.