Morgan Stanley sees 20% upside in this little-known education stock with exposure to Latin America
Don't sleep on Laureate Education , Morgan Stanley said. The Wall Street bank upgraded the Baltimore-based small cap, which operates universities in Mexico and Peru, to overweight from equal weight. Morgan Stanley also raised its price target to $17 from $15, implying more than 20% upside over the next 12 months. One key catalyst cited by analyst Javier Martinez de Olcoz was "nearshoring." That is, companies moving their supply chain closer to home.
mountain LAUR in 2023 Laureate also said it expects enrollment in its universities to grow this year by 6% to 7% over 2022 levels. On top of all that, Morgan Stanley's Martinez noted Laureate's valuation is cheap relative to Brazilian rivals such as Vitru and Ser Educacional . Vitru and Ser Educacional are up 24% and 88%, respectively, over the past three months. Laureate has climbed 16% during that same time.
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