2U, Inc. (TWOU) PT Lowered to $14 at BMO Capital

BMO Capital analyst Jeffery Silber lowered the price target on 2U, Inc. (NASDAQ: TWOU) to $14.00 (from $16.00) while maintaining an Outperform rating following the results.

The analyst commented, "2Q22 revenues missed though adjusted EBITDA beat. The focus, however, was on an accelerated restructuring strategy to realign around the edX platform, including a revamped marketing framework, simplified organization structure and "greater flexibility" for partners. The first two should improve financial performance, with the latter potentially addressing industry criticism. Management reduced 2022 revenue guidance, though raised 2023 adjusted EBITDA guidance and guided to positive FCF in 2023. We adjust our estimates and target."

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