Scholastic downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Scholastic (SCHL) to Neutral from Buy with an unchanged price target of $37. The firm cites valuation for the downgrade, saying the stock returned 50% (inclusive of dividends since its early-September initiation. The shares are at a 52-week high and within 3% of the price target the analyst tells investors in a research note. Riley now believes Scholastic shares largely reflect its growth expectations.