UPDATE: Piper Jaffray Raises Price Target on Bridgepoint Education to $35

According to Piper Jaffray, Bridgepoint Education (NYSE: BPI) price target is raised to $35.

Piper Jaffray said that in the crowded and increasingly commoditized post-secondary marketplace, BPI's low tuition pricing and liberal credit transfer policies are an important differentiator and are helping drive superior enrollment and financial performance. “Our price target moves to $35 from $31 on higher estimates.”

Bridgepoint Education closed yesterday at $22.99.