Adtalem Global Education price target raised to $115 from $108 at BMO Capital

BMO Capital raised the firm’s price target on Adtalem Global Education (ATGE) to $115 from $108 and keeps an Outperform rating on the shares. The company’s Q2 results beat expectations again on both the top- and bottom-line while its Enrollment growth accelerated once again, mostly driven by Chamberlain where management cited marketing efficiencies, the analyst tells investors in a research note. EBITDA margins rose 440bps, but marketing was flattish at Chamberlain given enhanced spending in Q1, BMO added.