UPDATE: JP Morgan Upgrades DeVry to Neutral on Diversification


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JP Morgan upgraded DeVry (NYSE: DV) from Underweight to Neutral and raised the price target from $22.00 to $28.00.JP Morgan commented, "As we expected, 2QF13 undergraduate new enrollment (start) declines at DeVry University (DVU) (56% of revenues) remained weak at (13%) y/y. We now believe that DVU starts will not inflect until well into F2014, at the tail end of its peer group, due to DVU's relatively high tuition. That said, we were impressed by stellar results in the remaining segments and recognize that DV's diversification strategy is working. We appreciate DV's focus on balanced growth and high quality student outcomes, and upgrade shares of DV to Neutral from Underweight."DeVry closed at $26.12 on Wednesday.

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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: Analyst ColorUpgradesAnalyst RatingsJP Morgan