Phoenix Education initiated with a Hold at Truist

Truist initiated coverage of Phoenix Education (PXED) with a Hold rating and $38 price target The Hold rating reflects concern over Phoenix Education’s ability to achieve its mid-single-digit enrollment growth target amid heavy exposure to the highly competitive online Business/IT segment, the analyst tells investors in a research note. At the same time, prospects for future capital returns and supportive industry regulation add appeal to its long-term outlook, the firm says.