American Public Education price target raised to $20 from $15 at Truist

Truist raised the firm’s price target on American Public Education (APEI) to $20 from $15 and keeps a Hold rating on the shares. The company reported upside Q3 margins and issued in-line Q4 guidance, and its progress returning the RU segment to enrollment growth and likely EBITDA profitability in the second half of 2024 and 2025 is encouraging after three difficult years after the acquisition closed, the analyst tells investors in a research note. American Public Education’s valuation discount could narrow if the company delivers mid single digit enrollment growth and margin expansion, Truist added.