Bright Horizons Downgraded Amid Government Funding Roll-Off Headwinds: Analyst
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Jeffrey M. Silber has downgraded Bright Horizons Family Solutions Inc (NYSE:BFAM) to Market Perform from Outperform with a price target of $99. Silber believes that consensus estimates for 2024 may be too high due to government funding roll-off headwinds. He expects BFAM to recover from the pandemic but thinks the stock may have gotten ahead of itself. Silber estimates adjusted EPS of $2.68 in 2023 vs. consensus of $2.83 and BFAM's guidance of $2.80-$3.00. BFAM shares are trading lower by 3.13% at $92.75.
July 17, 2023 | 5:36 pm
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Bright Horizons has been downgraded by BMO Capital Markets due to concerns over government funding roll-off headwinds and overvaluation. The stock is currently trading lower.
The downgrade by BMO Capital Markets is based on concerns over government funding roll-off headwinds and potential overvaluation of the stock. This negative sentiment from a major analyst could lead to a decrease in the stock's price in the short term.
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IMPORTANCE 80
RELEVANCE 100