Bank of America Maintains Buy on DeVry After New CFO Announcement

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Bank of America has published a research report on DeVry
DV
after the company appointed Timothy J. Wiggins as its new CFO. In the report, Bank of America writes, "DeVry has appointed Timothy J. Wiggins as CFO as of January 3rd. Wiggins will be resigning as CFO at Tellabs, where he has been CFO since 2003. During his tenure at Tellabs, Wiggins oversaw roughly $1bn in acquisitions. Wiggins also oversaw the repurchase of roughly 15% of the share count over the last five years and the initiation of a quarterly dividend in 2010. Wiggins succeeds Rick Gunst. In June 2011, Gunst announced his intention to retire. Gunst will stay with DeVry for a short period following Wiggins' arrival." Bank of America maintains its Buy rating and $49 price objective on DeVry, which is currently trading down 40.20 from yesterday's $33.19 closing price.
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Posted In: Analyst ColorNewsReiterationManagementAnalyst RatingsBank of AmericaTimothy J. Wiggins
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