UPDATE: Deutsche Bank Reiterates On Grand Canyon Education As Growth Continues To Outpace Target

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, and raised the price target from $49.00 to $50.00. In the report, Deutsche Bank noted, “Growth continues to outpace target. Grand Canyon reported another Q of positive start growth and +13% total enrollment growth vs +10% guidance. Online grew 11% vs plan for +6-8%. 2Q EPS of $0.49 beat our $0.46, the Street's $0.45, and was 4 cents better than guidance ex lower tax & share count. We raise 3Q14 from $0.55 to $0.56 (Street $0.53) and '15 by 2% from $2.45 to $2.50 (Street $2.44). Our Buy reflects our expectation for ongoing enrollment growth and positive, albeit moderating, margin expansion.” Grand Canyon Education closed on Thursday at $43.00.