UPDATE: Wunderlich Securities raises Price Target on Grand Canyon Education to $23

According to Wunderlich Securities, Grand Canyon Education (NASDAQ: LOPE) price target is raised to $23.

Wunderlich Securities said that though some investors may be disappointed with guidance that fell short of expectations, we continue to be impressed with Grand Canyon's (LOPE) relative out-performance. “Modest acceleration in enrollment and a strengthening RPS that reflects better persistence (and more credits) among enrolled students enhances the stock's investment appeal, in our opinion.”

Grand Canyon Education closed yesterday at $17.84.