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UPDATE: Bank of America Reiterates on DeVry Education Group Following Mixed Quarter Report

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In a report published Wednesday, Bank of America analyst Sara Gubins reiterated a Neutral rating on DeVry Education Group (NYSE: DV), but lowered the price target from $42.00 to $40.00.

In the report, Bank of America noted, “DV reported another mixed quarter: weakness in the DeVry University (DVU) segment (56% of rev.) but resilience in the non-DVU base. DV undergrad starts declined 12% in Nov. & -7.9% in Jan. DV expects March start trends to improve but is uncertain about the trajectory despite a significantly easier comparison (-21.2% last year) & the scholarship reintroduction (up to $20k). Bachelors programs (eg APOL, STRA) continue to struggle more than lower degree verticals given competition from traditional schools in online and higher costs (longer duration).”

DeVery Education Group closed on Tuesday at $36.12.

Latest Ratings for DV

DateFirmActionFromTo
Oct 2014Deutsche BankUpgradesHoldBuy
Aug 2014BarclaysMaintainsEqual-weight
Aug 2014Stifel NicolausMaintainsBuy

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Posted-In: Bank of America Sara GubinsAnalyst Color Price Target Analyst Ratings

 

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