KinderCare Learning initiated with a Neutral at Baird

Baird initiated coverage of KinderCare Learning (KLC) with a Neutral rating and $30 price target KinderCare is a market-leading provider in a “high-need and highly fragmented” market, but the positives are balanced by the stock’s valuation, the analyst tells investors in a research note. The firm says KinderCare is well positioned in large serviceable addressable market as child care has “durable demand with important benefits to children/families and society.”