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

JPMorgan raised the firm’s price target on Chegg to $14 from $12 and keeps a Neutral rating on the shares. The company reported “solid” Q2 results, improving demand trends, and gave updates to its artificial intelligence transformation strategy, the analyst tells investors in a research note. However, the firm says visibility remains limited and Chegg’s subscriber growth remains broadly under pressure.