McGraw Hill price target lowered to $21 from $25 at BMO Capital

BMO Capital lowered the firm’s price target on McGraw Hill (MH) to $21 from $25 and keeps an Outperform rating on the shares after its “clean beat and raise” Q3 results that followed “substantial weakness in shares intra-quarter”. Higher Education segment was well above expectations, driven by Inclusive Access strength that should persist, the analyst tells investors in a research note, adding however that the firm is reducing its price target to reflect more realistic upside from current trading levels.