UPDATE: Credit Suisse Initiates Coverage on Nord Anglia Education with Outperform Rating, $25 PT on Premium British Education for the Masses

In a report published Friday, Credit Suisse analyst Anjaneya Singh initiated coverage on

with an Outperform rating and $25.00 price target. In the report, Credit Suisse noted, “Initiating coverage with an Outperform rating and a $25 target price. NORD is a leading operator of premium British style K-12 schools located worldwide. The company operates 28 schools in 12 countries, and teaches more than 18,000 students. Large fragmented addressable market with strong drivers. NORD operates in a massive $58bn market that is 88% composed of single-school operators that typically are not financially motivated. NORD has the leading competitive position, being nearly twice as large as its next closest competitor, with the China (54% of revenue) and North America (15%) markets providing significant upside opportunity. The premium school market that NORD operates in has several growth drivers that lend it strength and resiliency for the foreseeable future.” Nord Anglia Education closed on Friday at $20.87.