Wunderlich Securities Comments on Grand Canyon Education

Wunderlich Securities provided color on Grand Canyon Education

in a research report published today. Wunderlich Securities has previously given Grand Canyon Education a Buy rating and $20 price target. In the report, Wunderlich Securities states, "Notes released this morning in Grand Canyon's (

) 8K regarding program review findings in the areas of incentive compensation and gainful employment are consistent with preliminary findings shared with the company more than one year ago. They should be viewed by investors in the context of the larger debate the Department is having on these subjects with the entire for-profit post-secondary industry. They will likely result in a to-be-determined fine." Wunderlich Securities also notes, "We do not expect the fine to be material, but note that if it proves to be onerous, the company could still appeal the Department's determination in Federal court. Grand Canyon remains one of our favorite names in the post-secondary group." Shares of Grand Canyon Education were trading at $15.21 at the time of posting, up 0.46% from Friday's market close.