Strategic Education price target raised to $85 from $75 at Truist

Truist analyst Tobey Sommer raised the firm’s price target on Strategic Education to $85 from $75 but keeps a Hold rating on the shares. The company’s Q4 results missed estimates, but the management outlined a return to enrollment and earnings growth in 2023, the analyst tells investors in a research note. The firm adds however that while it is encouraged by Strategic Education’s improving enrollment trends and potential for margin gains, the stock’s "rich valuation" at 24-times expected forward earnings is keeping it at neutral.