B. Riley lowered the firm’s price target on Phoenix Education (PXED) to $54 from $60 and keeps a Buy rating on the shares. Phoenix Education Partners reports Q1 results on January 13, with modeled revenue of $256M and EBITDA of $70M, slightly below consensus, driven by +1% enrollment growth and higher B2B enrollments carrying lower revenue per student but stronger retention, the analyst tells investors in a research note.
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