Market Overview

UPDATE: JP Morgan Upgrades DeVry to Neutral on Diversification

Share:
Related DV
Mid-Day Market Update: Conn's Drops Following Weak Q1 Results; Achaogen Shares Surge
Credit Suisse Hits Pause Button On DeVry, Downgrades To Neutral

JP Morgan upgraded DeVry (NYSE: DV) from Underweight to Neutral and raised the price target from $22.00 to $28.00.

JP Morgan commented, "As we expected, 2QF13 undergraduate new enrollment (start) declines at DeVry University (DVU) (56% of revenues) remained weak at (13%) y/y. We now believe that DVU starts will not inflect until well into F2014, at the tail end of its peer group, due to DVU's relatively high tuition. That said, we were impressed by stellar results in the remaining segments and recognize that DV's diversification strategy is working. We appreciate DV's focus on balanced growth and high quality student outcomes, and upgrade shares of DV to Neutral from Underweight."

DeVry closed at $26.12 on Wednesday.

Latest Ratings for DV

DateFirmActionFromTo
Jun 2016Credit SuisseDowngradesOutperformNeutral
Apr 2016Bank of AmericaDowngradesNeutralUnderperform
Feb 2016BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for DV
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Analyst Ratings

 

Related Articles (DV)

View Comments and Join the Discussion!