Strategic Education price target lowered to $105 from $120 at Truist

Truist analyst Jasper Bibb lowered the firm’s price target on Strategic Education (STRA) to $105 from $120 and keeps a Buy rating on the shares. Strategic reported upside to Q1 results, but on the negative side enrollment missed in both the USHE and AUS/NZ segments. Concerns around a continued slowdown in enrollment drove the modest stock reaction despite a significant EBITDA beat, notes the analyst, who lowered the firm’s price target on the view that multiple expansion is less likely if enrollment is not growing.