Stride price target raised to $70 from $65 at Citi

Citi raised the firm’s price target on Stride to $70 from $65 and keeps a Buy rating on the shares after updating forecasts to take into account the better-than-expected Q1 results and “upbeat” FY24 guidance. The “real significance” of the Q1 results is that they demonstrate the group can grow well without any impact from the COVID pandemic, which the firm thinks “de-risks” the investment case substantially and leads it to remove the “High Risk” modifier from its unchanged Buy rating.