UPDATE: Piper Jaffray Trims PT to $85 on Strayer Education; Fundamentals and Trends

Piper Jaffray cuts its price target from $92 to $85 on Strayer Education

and reiterates its Neutral rating on the company. Piper Jaffray comments, "We are trimming our price target for Strayer and other postsecondary education companies to factor in the latest operating fundamentals and industry trends. Our price target for Strayer moves from $92 to $85 based on 12x CY12E EPS of $7.07. Please see our Education Industry Benchmark Analysis report published today for more details on our sector view." STRA closed at $91.95 on Thursday.