UPDATE: J.P. Morgan Lowers DeVry's PT
According to a research report published this morning, J.P. Morgan lowered DeVry's (NYSE: DV) PT from $40 to $35.
In the report, J.P. Morgan said, "Tuesday evening, DeVry reported its 3QF12 (Mar) EPS of $1.00 (vs. consensus of $0.99); share repurchase contributed $0.01 to EPS. Mgmt suggested that prolonged economic weakness, related decline in student demand, and operational changes related to recent regulations were the main reasons for the continuing weakness. Large enrollment declines within DeVry University (DVU) and Carrington continued in 3QF12 (Mar)."
J.P. Morgan maintains its Neutral rating on DeVry, which is currently trading at $30.84.
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