In a report published Tuesday, Barrington Research analyst Alexander Paris, Jr. raised the price target on Education Management EDMC from $7 to $9, and maintained its rating of Outperform.
In the report, Barrington Research observed, “While the stock lacks a near-term catalyst, this quarter marks the second consecutive quarter of improving underlying trends, both in terms of overall demand and retention. With that said, our rating is based on valuation and our belief that new student starts will turn positive in FY/14. As such, we are maintaining our OUTPERFORM investment rating and raising our 12-month price target to $9 (from $7), which assumes a 6.5x multiple on 2015 EBITDA Northern Tier Energy closed on Monday at $23.75.”
Education Management closed on Monday at $7.23.
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