UPDATE: Wunderlich Upgrades Apollo Group to Buy

Wunderlich is out with its report today on Apollo Group APOL, upgrading APOL to Buy. In its report, Wunderlich writes, "We are upgrading our rating of Apollo Group shares to Buy, and raising our target to $63. Now that the company has effectively reset the baseline around a higher quality of enrollment, we expect unit volume growth to remain positive and earnings growth to follow in order." At the time of posting, shares of APOL were trading at $47.65, up 1.95% from Wednesday's close.