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Bright Horizons price target raised to $106 from $100 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Bright Horizons (BFAM) to $106 from $100 and keeps an Underweight rating on the shares. Strong margins drove the Q1 beat, but lighter enrollment trends offset, leading to a reiteration of the fiscal year guidance excluding a slight benefit from foreign exchange, notes the analyst. Following the report, the firm raised if FY25 and FY26 adjusted EBITDA estimates by 2% and 1%, respectively.

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