Stride price target raised to $88 from $84 at BMO Capital

BMO Capital analyst Jeffrey Silber raised the firm’s price target on Stride (LRN) to $88 from $84 and keeps an Outperform rating on the shares. The company reported a strong Q1 earnings beat with record enrollments and the management noted strong demand in both Gen Ed and Career Learning, the analyst tells investors in a research note. First-time FY25 guidance was also well above consensus, offsetting fears from a recent short report, but while many of the questions on the earnings call focused on ESSER – federal funded stimulus funding – fall-off, Stride management noted that it still expects revenue and enrollment to be flattish to slightly down this year, BMO added.