UPDATE: Barrington Research Reiterates Outperform, $35 PT on K12 on Strong Fundamentals

Barrington Research maintained its Outperform rating and $35 price target on K12

given the company's attractive valuation and strong fundamentals. Barrington Research commented, "Why we like the stock: Its large addressable market (domestic and international) with top‐line growth potential of greater than 20%, its high quality curriculum (with proven performance results), its passionate management team (Ron Packard), its clean balance sheet, and its strong earnings growth potential (>25%), make K12 an attractive stock, in our opinion. Given this attractive valuation (vs. growth expectations), LRN's current business momentum, margin expansion potential from current levels, strong market positioning and impressive number of outlets for future growth, we are reiterating our OUTPERFORM investment rating and $35 price target." K12 closed at $21.65 on Friday.