Bright Horizons price target raised to $108 from $100 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Bright Horizons (BFAM) to $108 from $100 and keeps an Underweight rating on the shares. Guidance for fiscal year revenue was refined but unchanged at about $2.675B, while the adjusted EPS was raised to a midpoint of about $3.40 from $3.35, notes the firm, which increased its own FY24 adjusted EBITDA estimate by 1% following the Q3 report.