Although the G8 Education Ltd (ASX: GEM) share price has risen an impressive 22% during the last three months, one leading broker believes that it can still keep climbing higher.
According to a note out of Ord Minnett this morning, the broker has retained its buy rating on the childcare centre operator and increased the price target on its shares to $5.10.
With G8 Education’s shares finishing the day at $4.58, Ord Minnett’s price target implies potential upside of over 11%.
Ord Minnett believes that the industry outlook is positive, with supply moderating and occupancy improving.
Furthermore, favourable changes to funding are expected to make childcare more affordable next year.
G8 Education was recently named as one of three dividend shares to buy by one Motley Fool contributor.
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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.