UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Grand Canyon Education
In a report published Monday, Deutsche Bank reiterated its Buy rating on Grand Canyon Education (NASDAQ: LOPE), and raised its price target from $21.00 to $25.00.
Deutsche Bank noted, “Gift of MA campus presents significant opportunity. Today Grand Canyon was awarded a 217 acre campus located in western MA, providing the company a significant opportunity to grow ground and online enrollment in the Northeast. While the development of the location is expected to require a $150m investment over the next five years, acquisition costs are $0, and campus enrollment is targeted at 5K with a likely boost to online enrollment.”
Grand Canyon Education closed on Friday at $23.14.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.