KinderCare rises after Morgan Stanley upgrades to 'overweight'
** Shares of Partners Group-backed KinderCare Learning Companies KLC.N rise 3.9% to $21.7 premarket
** Morgan Stanley upgrades stock to "overweight" from "equal-weight", maintains PT of $30
** Sees recent decline in the share price as an attractive entry point
* Says stock sell-off overdone as not much has actually changed with regard to KLC's fundamentals
** We like KLC's position as the largest day-care provider in the U.S. with mid-single digit revenue growth, and low-double digit EBITDA growth in an industry with strong pricing advantages - brokerage
** Believes KLC has strong growth opportunities that should translate to greater margin expansion and rev growth, which should drive its multiple higher
** 6 of 8 analysts tracking KLC rate it "buy" or higher, 2 "hold"; median PT is $31 - LSEG data
** As of last close, shares down 13% from its October IPO price of $24
Reporting by Sukriti Gupta in Bengaluru
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