Grand Canyon price target raised to $160 from $150 at Barrington

Barrington raised the firm’s price target on Grand Canyon Education to $160 from $150 and keeps an Outperform rating on the shares. The company’s Q4 results topped expectations and its initial fiscal 2024 guidance is above consensus, the analyst tells investors in a research note. Grand Canyon is seeing accelerating revenue growth and expanding margins while the shares trade at a valuation discount to the peer group, says the firm.