Learning Tree International tumbles on analyst downgrade
Learning Tree International, Inc. (Nasdaq: LTRE) shares plunged in today’s trading after an Stifel Nicolaus & Co. downgraded the stock to “hold” from “buy.”
"We feel valuation is fair, relative to growth prospects, especially in light of pending challenges in restoring overall top-line growth in a period of slowing economic activity," Stifel Nicolaus & Co. analyst Robert L. Craig wrote in a client note.
Craig said the rating change was "based solely on valuation," and that it "does not reflect an expected near-term deterioration in fundamental outlook."
In today’s trading, LTRE shares were down 20.5%, or $5.49, at $21.23. Over the last 52 weeks, shares have ranged from $8.87 to $27.71.
