UPDATE: Jefferies Raises PT on Bright Horizons Family Solutions Following 2Q13 Results Report

In a report published Friday, Jefferies analyst Dan Dolev reiterated a Buy rating on Bright Horizons Family Solutions BFAM, and raised the price target from $41.00 to $43.00.

In the report, Jefferies noted, “Yesterday evening, BFAM reported its 2Q13 results and updated the FY guidance. As we expected, 2Q13's guidance was overly conservative and lent itself to a beat on both the top line and EPS. M&A helped management raise revenue guidance by 100-400bps, although it kept EPS guidance largely unchanged. We've seen this pattern before, and expect an EPS beat/raise in 3Q13. We are now above EPS guidance/consensus for 2013. Reiterate Buy. Raising PT from $41 to $43.”

Bright Horizons Family Solutions closed on Thursday at $36.76.