American Public Education price target lowered to $18 from $24 at Barrington

Barrington lowered the firm’s price target on American Public Education to $18 from $24 and keeps an Outperform rating on the shares after the company reported quarterly results and reaffirmed its FY24 guidance. The firm said it maintained its Outperform rating given the stock’s substantial discount valuation, recovering demand for affordable online higher education and nursing programs, and the firm’s expectation for a return to profitability in 2024. The price target cut was due to the Q2 miss and below consensus Q3 guidance, the analyst tells investors in a research note.