Udemy price target lowered to $14 from $15 at Morgan Stanley

Morgan Stanley analyst Josh Baer lowered the firm’s price target on Udemy (UDMY) to $14 from $15 and keeps an Equal Weight rating on the shares. After revisiting a trio of education software platform operators following their respective investor days, the firm says it remains "skeptical on the simultaneous achievability of higher levels of growth" and significantly better margins in long-term targets, but adds that the current valuations of the group "embed much worse." The firm, which says it sees "compelling upside across these platforms," favors Coursera (COUR) over 2U (TWOU) and Udemy.