Morgan Stanley Resumes Chegg (CHGG) at Overweight

Morgan Stanley analyst Josh Baer resumes coverage on Chegg (NYSE: CHGG) with a Overweight rating and a price target of $45.00.

The analyst comments "A muted competitive environment, continued subscriber growth momentum, an ARPU uplift story beginning in 2H20, and >20% pullback from recent highs, highlights an attractive entry point at <7x EV/CY21 sales for ~25% growth and ~25% op margins."

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

Shares of Chegg closed at $36.60 yesterday.

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