McGraw-Hill Maintains Price Target and Overweight Rating Despite Management Changes

Piper Jaffray has published its research report today on Mcgraw-Hill (NYSE: MHP) in the lead-up to management changes.

Mcgraw-Hill is naming CFO Bob Bahash the head of the education unit, Jack Callahan will take Bahash's spot as CFO, and Lou Eccleston is going to run the financial information business.

In a note to clients, Piper Jaffray writes, "We do not expect these changes to result in any deviation from the current growth strategy, nor any slowdown in the earnings trajectory from our current expectations. MHP remains one of our favorite stock ideas, with improving fundamentals, manageable regulatory risk, fading litigation worries, and a modest current valuation providing the basis for 20%+ potential upside over the next 12 months."

MHP closed Monday at $36.49.