Bank of America initiated Bright Horizons BFAM with a Buy rating and a $35.00 price objective.
Bank of America noted, "Bright Horizons (BFAM) is the clear leader in the employer-based U.S. child care market. It is the only scale player (over 6x larger than second leading provider) in a market where scale is important to employers. It partners with more than 850 clients, including more than 130 of the Fortune 500. We view its predictable business model, well-known brand, strong track record, seasoned management team, and forecasts for mid-teens adjusted EBITDA growth as key attributes."
Bright Horizons closed at $28.35 on Tuesday.
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