Stride price target raised to $141 from $117 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Stride (LRN) to $141 from $117 and keeps an Equal Weight rating on the shares. The firm is “bullish” into the fiscal Q3 report and expects “a beat and raise” but is refreshing views on valuation following recent acceleration, the analyst tells investors in a preview. Given macro uncertainty, Stride provides a resilient option with its K12 state and local funding, but the firm maintains an Equal Weight rating due to what it calls an “appropriately balanced valuation” in light of forward enrollment uncertainty, lack of visibility, and regulatory risks.