Bright Horizons price target raised to $103 from $85 at UBS

UBS raised the firm’s price target on Bright Horizons to $103 from $85 and keeps a Neutral rating on the shares. Bright Horizons faces some moving parts into 2024 with Full Service tuition increases and enrollment growth, offset in part by wage inflation and government subsidy expiration, the analyst tells investors in a research note. The firm thinks risk/reward is balanced currently, but would look to become more constructive on increased confidence regarding the setup into 2025 and/or stock pullbacks.