Learning Technologies PLC (LON:LTG), the e-learning and training specialist, has received an upgrade from Peel Hunt.
Following on from solid interim results last month and the acquisition of eCreators, Australia’s largest provider of Moodle, the leading open-source learning management system (LMS), the broker has raised its share price target to 170p from 140p and its investment recommendation to ‘buy’ from ‘hold’.
The broker said it has also increased its earnings per share target for this year by 4%.
The upside potential of the stock is now 30%, said the broker.
Earlier this month, another broker Berenberg also raised its price target to 190p and said second-half numbers might be much stronger than expected especially with a contribution from the Moodle-based e-learning platform.
Shares rose 1% to 134p.