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UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Grand Canyon Education on Improving Outlook

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In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Grand Canyon Education (NASDAQ: LOPE), and raised its price target from $25.00 to $29.00.

Deutsche Bank noted, “Raise target from $25 to $29 on improving near and longer-term outlook. LOPE reported better than expected 4Q12 EPS of $0.46 on high single digit start growth and 19% enrollment growth. The third consecutive Q of double digit enrollment gains and a positive 2013 outlook, due to demand in LOPE's core SW markets, continue to demonstrate the strength of LOPE's regional branding strategy. We lower 1Q13 EPS from $0.40 to $0.39 (Street $0.38), on higher near term operating costs but raise FY13 EPS by 4% from $1.63 to $1.70 (Street $1.70) on stronger 2H margins. Our Buy rating reflects a positive 2013 outlook and opportunities for meaningful future enrollment growth and margin expansion.”

Grand Canyon Education closed on Tuesday at $25.56.

Latest Ratings for LOPE

DateFirmActionFromTo
Mar 2016Credit SuisseUpgradesNeutralOutperform
Feb 2016Credit SuisseInitiates Coverage onNeutral
Aug 2015CitigroupMaintainsBuy

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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