Strategic Education price target raised to $100 from $95 at Barrington

Barrington raised the firm’s price target on Strategic Education to $100 from $95 and keeps an Outperform rating on the shares. The firm notes Strategic Education announced the results of its third quarter ended September 30, which topped expectations. The company is emerging from the pandemic with significant strength, and Barrington is “encouraged” by the new student enrollment growth across its universities, continued improvements in retention and the long-awaited inflection in total student enrollment at USHE. Longer term, the firm believes SEI can grow revenues at a mid- to high-single digit rate with adjusted operating margins in the mid-20% range, up from 8.3% in 2022.