Strategic Education price target raised to $110 from $92 at Truist

Truist raised the firm’s price target on Strategic Education to $110 from $92 and keeps a Hold rating on the shares. The company reported “strong” Q4 results, and while the management noted that the timing of growth investments may have disproportionately boosted second-half margins, the implied 2024 outlook still looks conservative considering the Q4 exit rate on U.S. Higher Education margins, the analyst tells investors in a research note. Truist adds however that at 19-times expected forward earnings, valuation on the stock “remains a hurdle”.