Barrington downgraded 2U to Market Perform from Outperform after the company reported Q3 results that the firm says “were generally in line with or above consensus expectations,” but full-year revenue guidance was reduced. The firm is moving to the sidelines given the limited near-term visibility and lowering its rating until the company’s looming debt maturities are refinanced and it sees “more clearly the impact of the portfolio management activities on the P&L,” the analyst tells investors.
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Read More on TWOU:
- 2U price target lowered to $2 from $4 at Baird
- 2U downgraded to Neutral from Overweight at Cantor Fitzgerald
- 2U lowers FY23 revenue view to $965M-$990M from $985M-$995M, consensus $980.53M
- 2U Reports Results for Third Quarter 2023
- 2U reports Q3 adjusted EPS (15c), consensus (13c)
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