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In a report published Friday, Compass Point analyst Michael Tarkan downgraded the rating on
DeVryDV from Buy to Neutral, and lowered the price target from $35.00 to $28.00.
In the report, Compass Point noted, “We are downgrading our rating on DV shares to Neutral, from Buy, and cutting our price target to $28, from $35, after the company reported another disappointing quarter, highlighted by continued deterioration at DeVry University (DVU), and renewed pressure at DeVry Medical International (DMI) and Carrington. While we believe the overall company remains relatively well-positioned from a capital and regulatory standpoint versus peers, and its international exposure should ultimately support enrollment levels, meaningful near-term challenges remain driven by weak student demand. We are moving to the sidelines, awaiting more operational visibility and consistency.”
DeVry closed on Thursday at $31.86.
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