2U down as Piper downgrades to 'underweight'

2U

25/05/2022 11:07

** Shares in online education co 2U Inc  TWOU.O  down 4.3%
at $10.14 in premarket trading
    ** Piper Sandler cuts rating to "underweight" from
"neutral", citing  multiple headwinds facing the industry and
business model
    ** "The regulatory scrutiny risks are material, thereby
making it challenging for us to be constructive on 2U," says
Piper; lowers PT by $1 to $9
    ** Avg. rating of 13 analysts is "buy"; median PT is $16 -
Refinitiv data
    ** As of last close, stock fell ~47% this year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))