Market Overview

UPDATE: Piper Jaffray Reiterates Neutral Rating, Lowers PT on ITT Educational Services

Related ESI
A Closer Look At 5 Heavily Shorted Stocks
After ITT's Short Squeeze, Who Could Be Next?

In a report published Friday, Piper Jaffray & Co. reiterated its Neutral rating on ITT Educational Services (NYSE: ESI), but lowered its price target from $29.00 to $23.00.

Piper Jaffray noted, “While we are not inclined to upgrade our Neutral rating on ESI given still considerable execution and operating risks, we view the risk/reward as increasingly interesting given the stock's sharp underperformance in the past year and improved clarity on costs associated with its student lending program. Although estimates are coming down and enrollment trends are still negative, our confidence in the company's financial model has improved. For value investors with patience, ESI shares are intriguing.”

ITT Educational Services closed on Thursday at $16.86.

Latest Ratings for ESI

DateFirmActionFromTo
Nov 2014Bank of AmericaMaintainsUnderperform
Oct 2014Bank of AmericaMaintainsUnderperform
Aug 2014William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for ESI
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (ESI)

Around the Web, We're Loving...

Get Benzinga's Newsletters