Bright Horizons (BFAM) PT, Estimates Raised at Jefferies Post Q1

Jefferies analyst Dan Dolev bumped estimates and his price target on Buy-rated Bright Horizons (NYSE: BFAM) to $62.00 (from $57.00) following Q1 results.

Dolve commented, "On Thursday, BFAM reported 1Q15 results, increased FY EPS guide. If it was possible to summarize what makes BFAM a quality company, 1Q is likely a good example given accelerating ~6% org. center growth, 150bps GM expansion and +26% adj. EPS growth. Controlled growth, improving margins and tax savings should ensure EPS would grow 20-22% in the FY, with large scale M&A potentially further accelerating EPS growth in FY16. BUY. PT $62 vs. $57."

The firm raised FY 2015 EPS from $1.74 to $1.75 and FY 2016 EPS from $2.11 to $2.17.

For an analyst ratings summary and ratings history on Bright Horizons click here. For more ratings news on Bright Horizons click here.

Shares of Bright Horizons closed at $53.89 yesterday.

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