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UPDATE: Piper Jaffray Increases PT on Apollo Group to $37.

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Piper Jaffray reiterates a Neutral rating on Apollo Group (NASDAQ: APOL) and decreased its price target from $38 to $37.

Piper Jaffray notes, “Aggressive cost management efforts translated into an EPS beat for Apollo, but lingering uncertainty around enrollment growth creates a near-term headwind to improved stock performance. While we expect F2013 to represent the trough in earnings, our F2013 & F2014 estimates move lower in the context of more conservative enrollment growth assumptions. Accordingly, we continue to believe it is too early to own APOL shares.”

Apollo Group closed at $32.47 yesterday.

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

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