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Stock analysts at Morgan Stanley began coverage on shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) in a report issued on Tuesday, Analyst Ratings Net reports. The firm set an “overweight” rating and a $20.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 12.55% from the stock’s previous close.

The analysts wrote, “HMH is a leader in the digital evolution of K-12 content and is poised to benefit from a recovery in spending. HMH has a strong balance sheet and growing free cash flow. We see the risk/reward as attractive.” Some key positives from the report include: - “We see HMH as a major beneficiary of higher K-12 spend and based on estimates for the next few adoption cycles, our revenue forecast could be conservative.” - “The digital transition is an opportunity (and a threat); HMH’s content is digital ready.”

Shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) traded down 2.14% during mid-day trading on Tuesday, hitting $17.39. The stock had a trading volume of 46,220 shares. Houghton Mifflin Harcourt has a 52 week low of $13.74 and a 52 week high of $18.73. The stock has a 50-day moving average of $16.86 and a 200-day moving average of $16.86. The company’s market cap is $2.434 billion.

Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets initiated coverage on shares of Houghton Mifflin Harcourt in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of Houghton Mifflin Harcourt in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Houghton Mifflin Harcourt in a research note to investors on Tuesday. They set a “buy” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Houghton Mifflin Harcourt has an average rating of “Buy” and an average price target of $20.00.

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