KinderCare Learning price target lowered to $21 from $30 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on KinderCare Learning (KLC) to $21 from $30 and keeps an Overweight rating on the shares. KinderCare’s Q4 results were solid, and guidance of 5% revenue growth was just below the firm’s estimates and 193 basis points below consensus, the analyst tells investors in a research note. The updated price target reflects the increased risk to revenue from government subsidies.