UPDATE: J.P. Morgan Downgrades DeVry to Neutral

J.P. Morgan is out with its report today on DeVry (NYSE: DV), downgrading DV from Overweight to Neutral.

In its report, J.P. Morgan writes, "While we continue to appreciate DV's approach of diversification and balanced growth and believe that the long-term growth potential remains intact, we think that the near-term enrollment recovery will take longer that for many other players in the sector. We are downgrading shares of DV from Overweight to Neutral and establising our December 2012 price target of $45."

Shares of DV closed Tuesday at $46.08, down 0.78% from Monday's close.