KinderCare Learning price target lowered to $12 from $18 at BMO Capital

BMO Capital lowered the firm’s price target on KinderCare Learning (KLC) to $12 from $18 but keeps an Outperform rating on the shares. The company missed adjusted EBITDA expectations owing to lighter occupancy, which diverged during the quarter, driving weaker-than-anticipated enrollment, the analyst tells investors in a research note. BMO adds however that KinderCare management also cited a number of initiatives to improve occupancy.