Bright Horizons price target lowered to $112 from $138 at UBS

UBS lowered the firm’s price target on Bright Horizons (BFAM) to $112 from $138 and keeps a Neutral rating on the shares. Bright Horizons’ Q3 results should be largely consistent with consensus, with Backup Care again the highlight with more mixed dynamics within Full Service, the analyst tells investors in a research note. The stock’s recent move lower is surprising, but with moderating enrollment growth and a persistent revenue headwind from center count, some conviction in a floor for enrollment growth as well as visibility to stronger center count growth are likely needed for shares to work, the firm adds.