Piper Jaffray Maintains Neutral Rating on DeVry

According to Piper Jaffray, DeVry (NYSE: DV) Neutral rating is maintained.

Piper Jaffray said that DV shares have lagged this year (off 27% YTD, vs a sector decline of 20% and an S&P500 gain of 0.3%), reflecting disappointing enrollment trends and a downward bias in estimate revisions. “While we like DeVry's high quality program offerings and secular growth prospects, we anticipate continued weakness in Fall enrollments (to be reported Monday 12/12) and accordingly believe it is still too early to be involved with the shares. Maintain Neutral.”

DeVry closed yesterday at $35.11.