JPMorgan upgraded Coursera (COUR) to Overweight from Neutral with an unchanged price target of $12 after the company announced a merger with Udemy (UDMY). The firm keeps a Neutral rating on Udemy with an $8 price target. The combination creates a “comprehensive AI-first” skills platform with potential synergy upside, the analyst tells investors in a research note. JPMorgan believes pairing Coursera’s consumer subscription model with Udemy’s enterprise platform will create a “more formidable” AI-skills platform and deliver expanded reach. It thinks the $115M in projected synergies within 24 months of the deal closing will prove conservative.
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