UPDATE: Oppenheimer Lowers DeVry's PT

According to a research report published this morning, Oppenheimer has decreased DeVry's DV PT from $48 to $39. In the report, Oppenheimer said, "EPS of $1.00 (-24% y/y) in F3Q12 compared to our est/consensus of $1.08/$0.99. Revenue of $541M (-4% y/y) compared to our est/consensus of $553M/$529M. Not unexpectedly, Spring Enrollment softened, with DeVry Undergrad, DeVry Graduate (Keller), DeVry Medical, and Carrington all decreasing new enrollments. Favorably, DeVry Brasil and Chamberlain continue to deliver solid growth, partly offsetting the declines elsewhere. DV's outlook was muted given minimal enrollment visibility, with focus on out-year improvement." Oppenheimer maintains its Outperform rating on DeVry, which is currently trading at $30.66.