UPDATE: Bank of America Reiterates on Bright Horizons Family Solutions as Organic Growth Accelerates in 4Q

In a report published Friday, Bank of America analyst Sara Gubins reiterated a Buy rating on

, and raised the price target from $42.00 to $44.00. In the report, Bank of America noted, “In 2014, BFAM expects 10-12% YoY revenue growth, driven by +7-9% organic (pricing, enrollment growth, new centers, ancillary services) and +5% acquisitions, partially offset by center closures. Management forecasts 15-17% adjusted EBITDA growth YoY and 23-27% adjusted net income growth YoY. This is consistent with BFAM's longer-term forecast of revenue growth in the high-single- to low-double-digits YoY, annual adjusted EBITDA growth in the mid-teens YoY, and annual adjusted EPS growth in the low- to mid-20% YoY. BFAM's 2014E adj. EPS of $1.42-1.46 compares to prior consensus of $1.46.” Bright Horizons Family Solutions closed on Thursday at $39.57.