Barrington Research Feels Confident About Bridgepoint Education Ahead of Q4 Report

In a report published Monday, Barrington Research analyst Alexander Paris reiterated an Outperform rating and $22.00 price target on Bridgepoint Education BPI. In the report, Barrington Research noted, “After several years of largely self-inflicted new enrollment weakness due to the prolonged transfer process concerning its accreditation, which is now fully behind the company, management can now focus on fundamentals, which will begin with a return to sustainable starts growth beginning in Q4/13. With starts growth expected in Q4/13, its strong balance sheet (cash of ~$5-6 per share and no LT debt) and an improving outlook, we are reiterating our OUTPERFORM investment rating and $22 price target.” Bridgepoint Education closed on Friday at $19.28.