2023-04-20 07:41:53 ET
Shares of Chegg ( NYSE: CHGG ) charged about 3% higher in premarket trading on Thursday after an upgrade from Craig Hallum.
Equity analyst Alex Fuhrman told clients that higher education enrollment is on the rise after a pandemic-driven dip. Additionally, applications are showing strong growth, which should bolster earnings results for the company moving forward.
Fuhrman expects a strong report on May 1, followed by strong forecasts for the full-year. He hiked his price target to $25 from $20 alongside the upgrade from Hold to Buy.
Read more on the earnings expectations for the company in early May .
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Chegg stock rises as Craig Hallum shifts to Buy