In a report published Monday, Jefferies analyst Brian Pitz initiated coverage on Chegg CHGG with a Buy rating and $14.00 price target.
In the report, Jefferies noted, “We initiate with a Buy and $14 PT. With a focus on saving students time, money and helping them to get smarter, we believe Chegg is one of the best positioned in the rapidly evolving education products & services space and that there is meaningful upside from current levels. Jefferies acted as a lead manager in Chegg's Nov IPO.”
Chegg closed on Friday at $9.57.
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