Is $67 As Good As It Gets for Chegg?
Online education technology leader Chegg (NYSE: CHGG) continues to power ahead as the COVID-19 pandemic has made its extended learning opportunities more critical than ever. Shares of Chegg have more than doubled to just under $67 a share since the coronavirus outbreak began in earnest.
Yet BMO Capital analyst Jeffrey Silber downgraded the education technology specialist from an outperform rating to market perform -- even as he raised his price target from to $54 to $67 -- saying investors shouldn't expect it to generate any additional value beyond these levels despite the pandemic "accelerating" the push toward online education.
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Source Fool.com
