Nerdy resumed with an Outperform at Raymond James

Raymond James resumed coverage of Nerdy with an Outperform rating and $5.50 price target. The analyst believes the stock’s risk/reward appears favorable, particularly as Nerdy exits its multi-year transition to a subscription model and with increasing signs of success with its new schools channel. The firm sees “notable simplification in the story” with a return to meaningfully higher growth exiting the year.