UPDATE: Topeka Capital Markets Reiterates Sell Rating, Lowers PT on Corinthian Colleges

In a report published Monday, Topeka Capital Markets reiterated its Sell rating on Corinthian Colleges (NASDAQ: COCO), but slightly lowered its price target from $2.00 to $1.50.Topeka Capital noted, “We are maintaining our Sell rating on COCO shares and lowering our price target to $1.50, from $2.00, after analyzing the Company's recent 10K, which provides more details on its financial responsibility score, ASFG loan program, and ATB exposure -- all of which remain key overhangs on the stock, in our view. We are also republishing our model to reflect prior-period restatements, but are maintaining our below-consensus FY2013 EPS estimate of $0.25.”Corinthian Colleges closed on Friday at $2.19.