UPDATE: Piper Jaffray Raises Price Target on Capella Education to $46

According to Piper Jaffray, Capella Education (NASDAQ: CPLA) price target is raised to $46. Piper Jaffray said that while Capella's 3Q results were largely in-line, the market liked what it heard in terms of a more positive commentary from management on the near-term enrollment outlook. “We are incrementally more positive on the name given mounting evidence that we are at or near an inflection-point in earnings growth.”

Capella Education closed yesterday at $35.03.