UPDATE: Stifel Nicolaus Raises PT to $34 on Bright Horizons Family Solutions Following 2013 Guidance
Stifel Nicolaus maintained Bright Horizons Family Solutions (NASDAQ: BFAM) with a Buy and raises the price target from $33.00 to $34.00.
Stifel Nicolaus analyst Robert Craig noted, "In our view, Bright Horizons is a premier growth company with 15+ years of uninterrupted revenue and earnings growth. It is expected to benefit from an improving economy, a healthier corporate spending environment, favorable demographic and socioeconomic trends, and an industry leadership position. The business model is very attractive, predictable, and visible, given long duration contracts, excellent customer retention, long student durations, low capital requirements, and favorable pricing flexibility. In addition, newer businesses and geographies augment future growth prospects."
Bright Horizons Family Solutions closed at $30.00 on Wednesday.
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