KinderCare Learning price target lowered to $35 from $41 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on KinderCare Learning (KLC) to $35 from $41 and keeps a Buy rating on the shares. The firm’s analysis of alternative data linked to child care center enrollments, including Google search volumes for nearby child care services and Kastle card swipe data, points to continued increases in center occupancy rates at Bright Horizons (BFAM) and KinderCare, though the firm reduced its target multiple to reflect peer group multiple compression, the analyst tells investors.