McGraw Hill stock has the attention of analysts
Education stock McGraw Hill Inc (NYSE:MH) is surging, last seen up 6.4% to trade at $14.20, after today's wave of bull notes. Analysts are chiming in after the company's impressive fiscal first-quarter results last week, with revenue of $535.7 million representing a 2.4% year-over-year increase.
No fewer than 12 analysts initiated coverage with bullish ratings today. Notably, Morgan Stanley and J.P. Morgan Securities assigned "overweight" ratings and price targets of $20 and $21, respectively, while BMO Capital Securities and William Blair issued "outperform" ratings.
Analysts pointed to the company's reputation as a leader in digital learning as a key driver of investor confidence, while Deutsche Bank cited AI potential. MH is now on track for its biggest single-session gain since going public on July 24th of this year, though its still below its initial public offering (IPO) price of $17.