Citi analyst Thomas Singlehurst lowered the firm’s price target on Coursera (COUR) to $15 from $30 and keeps a Buy rating on the shares. The firm cites lower forecasts and marking to market its sum-of-the-parts valuation for the target cut. Even if the company has done a good job defending, and even expanding, adjusted EBITDA there are fundamental question marks around whether Coursera has gone ex-growth. Citi thinks these concerns are misplaced, saying the medium-term opportunity in Enterprise is significant despite recent pressures.
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