Jefferies Explains What to do with Bright Horizons (BFAM) After a 58c Beat, PT Raised to $210
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Jefferies analyst Hamzah Mazari raised the price target on Bright Horizons (NYSE: BFAM) to $210.00 (from $189.00) after the company reported Q4 EPS of $0.36 versus consensus of -$0.22. The beat to came from higher than expected revenues mostly in full service and back-up and better cost performance across the board with the higher margin back-up business helping mediate declines in full service.
The analyst reiterated a Buy rating, stating "What to do with BFAM shares: Buy more if you think full service will continue to improve sequentially with a recovery in utilization rates by the end of 2021 and that backup will become a bigger piece of mix helping drive company margins higher. We also like the potential for increased M&A in 2021 with potential for attractive international opportunities".
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