UPDATE: Piper Jaffray Reiterates Neutral Rating, Raises PT on Apollo Group
In a report published Wednesday, Piper Jaffray & Co. reiterated its Neutral rating on Apollo Group (NASDAQ: APOL), and slightly raised its price target from $24.00 to $25.00.
Piper Jaffray noted, “Aggressive cost management efforts translated into a F1Q EPS beat for Apollo, but lingering uncertainty around enrollment growth creates a near-term headwind to improved stock performance. With a sustained recovery in enrollments still more than a year away, in our view, we continue to believe it is too early to own APOL shares.”
Apollo Group closed on Tuesday at $20.94.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Piper Jaffray & Co.