In a report published Tuesday, Morgan Stanley analyst Thomas Allen upgraded the rating on H&R Block (NYSE: HRB) from Equal-Weight to Overweight, and raised the price target from $25.00 to $33.00.
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In the report, Morgan Stanley noted, “While HRB has traded off over the past few months on concerns ACA will be delayed or de-funded, we have warmed up to the stock, especially after HRB partnered w/ GoHealth. We've adjusted our ests to reflect our latest thinking on ACA / buybacks, resulting in F15 EPS of $2.20, 15x multiple, $33 PT.”
H&R Block closed on Monday at $26.66.
-Dwight Einhorn
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