Bright Horizons price target raised to $76 from $68 at Baird

Baird analyst Jeffrey Meuler raised the firm’s price target on Bright Horizons to $76 from $68 and keeps a Neutral rating on the shares. The analyst said 4Q modestly exceeded consensus, though EPS upside driven by greater-than-expected government support. Baird said our concern that work from home/anywhere has structurally impaired the company’s worksite co-located childcare model remains.