Don't sleep on Laureate Education , Morgan Stanley said. The Wall Street bank upgraded the Baltimore-based small cap, which operates universities in Mexico and Peru, to overweight from equal weight. Morgan Stanley also raised its price target to $17 from $15, implying more than 20% upside over the next 12 months. "Education is a key part of the nearshoring story," Martinez said. On top of all that, Morgan Stanley's Martinez noted Laureate's valuation is cheap relative to Brazilian rivals such as Vitru and Ser Educacional .

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Persons: Morgan Stanley, Javier Martinez de Olcoz, Martinez, Morgan Stanley's Martinez, Ser, — CNBC's Michael Bloom Organizations: Education Locations: Baltimore, Mexico, Peru, Asia, U.S