Chegg price target lowered to $12 from $14 at JPMorgan

JPMorgan lowered the firm’s price target on Chegg to $12 from $14 and keeps a Neutral rating on the shares ahead of the earnings report. The analyst says Chegg’s subscriber acquisition and retention improved into July, and better fall enrollment should support improving year-over-year subscriber declines through the second half of 2023 and into 2024. Still, visibility remains limited, the analyst tells investors in a research note.