Bright Horizons upgraded to Neutral from Sell at UBS

UBS upgraded Bright Horizons Family Solutions to Neutral from Sell with a price target of $83, up from $82. While consensus earnings estimates for 2024 is still 6% above UBS numbers, it has come in considerably from being 14% above the firm previously, the analyst tells investors in a research note. When combined with the stock’s 20% pullback since August, Bright Horizons’ risk/reward has become more balanced, says the firm.