Stifel Starts McGraw Hill (MH) at Buy

Stifel analyst Shlomo Rosenbaum initiates coverage on McGraw Hill (NYSE: MH) with a Buy rating and a price target of $19.00.

The analyst comments: "McGraw Hill is a leading provider of educational content and has transitioned from selling physical textbooks to being primarily a digital platform-based company. MH represents about 7% of a roughly $30B TAM, which is estimated to be growing in the low-single-digits. We view McGraw Hill as a recession-resistant business with 1) a moderate (mid-single-digit) topline growth trajectory, 2) K-12 clients that pay upfront on 5-8 year contracts, 3) further room for margin improvement, 4) declining leverage post the IPO, with 5) an experienced management team operating a prominent educational content brand."

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

Shares of McGraw Hill closed at $13.35 yesterday.

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