LAUR - Laureate Education rises after Morgan Stanley upgrades on nearshoring benefits

2023-08-07 09:03:25 ET

Laureate Education ( NASDAQ: LAUR ) rose ~5% Monday pre-market after Morgan Stanley upgraded the education services company, considering the direct and indirect benefits from nearshoring.

The agency upgraded the stock to Overweight from Equal Weight, and raised the price target to $17 from $15.

"The repercussions of nearshoring should lead to better overall economy and higher consumer spending, but it should take some years to materialize. However, education is one of the few consumer sectors that should experience an initial direct impact because  the demand for specialization precedes the rise in consumption – as upskilling/reskilling are a key piece of the nearshoring thesis," Morgan Stanley analysts said in a research note.

The rating aligns with the average sell-side analyst rating of Buy, with an average price target of $16.00. The stock is currently trading at $13.39.

Seeking Alpha's Quant Rating system gives the stock a Hold rating.

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