Laureate Education upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Laureate Education to Overweight from Equal Weight with a price target of $17, up from $15. The analyst believes Laureate should benefit directly and indirectly from nearshoring and raised enrollment estimates. Mexico’s post-secondary education has lower participation rates versus Latin American peers, and access to skilled labor is one of the country’s main weaknesses, the analyst tells investors in a research note. The firm says investments in new plants and the government’s need to expand the infrastructure should require a large number of specialized workers, with Laureate being one of the best positioned players to capture the opportunity.