Bright Horizons price target lowered to $100 from $124 at BMO Capital

BMO Capital lowered the firm’s price target on Bright Horizons (BFAM) to $100 from $124 and keeps an Outperform rating on the shares. The company reported a “decent” quarter but its guidance was more “muted”, the analyst tells investors in a research note. The corporate-provided childcare is an attractive recruiting and retention tool in a tight labor market, and while the pandemic altered the business, a recovery is taking hold, BMO adds.