Bright Horizons price target lowered to $92 from $99 at BMO Capital

BMO Capital analyst Jeffrey Silber lowered the firm’s price target on Bright Horizons to $92 from $99 and keeps a Market Perform rating on the shares after its Q2 results. The company’s full-service centers outperformed with sequential improvement in utilization and positive cohort migration, and back-up care was also better than expected given utilization and extended partnerships, though Ed-Assist underperformed, the analyst tells investors in a research note. The UK was also the weak spot of the quarter, and given the challenged operating environment, management lowered its guidance for the year, the firm adds.