Stride price target raised to $60 from $50 at Barrington

Barrington raised the firm’s price target on Stride to $60 from $50 and keeps an Outperform rating on the shares after the company reported fiscal Q1 results that topped expectations and gave initial FY24 guidance that was above both the firm’s estimates and consensus. The stock is up 40% year-to-date, but is still trading at a valuation that represents “a big discount to its Ed Tech peers,” the analyst tells investors.