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News Breaks
March 27, 2013
10:08 EDTAPOLApollo falls after Wells Fargo analyst cuts rating
For profit education company Apollo Group (APOL) is falling after a Wells Fargo analyst downgraded the stock, citing what he sees as the company's uncertain outlook. Apollo reported stronger than expected second quarter results on March 25, but its student enrollment was below analysts' consensus estimates. WHAT'S NEW: Wells Fargo analyst Trace Urdan dropped his rating on Apollo to Market Perform from Outperform in a note to clients earlier today. Apollo's decision to close a number of its campuses appears to be having a greater negative effect than the company anticipated, wrote Urdan, adding that these negative trends could continue for several more quarters. Meanwhile, Apollo's new advertising strategy doesn't appear to be significantly increasing demand, the analyst believes. Moreover, the stock can't rebound significantly until the company's new enrollment stabilizes, and Apollo's management doesn't seem to know how to make that happen, he wrote. Urdan slashed his price target range on the shares to $17-$19 from $32-$35. WHAT'S NOTABLE: Apollo's stock jumped more than 5% to $18.25 on the day it reported its results, but has since retreated. In early trading today, the shares slid 54c, or 3%, to $17.22.
News For APOL From The Last 14 Days
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October 15, 2014
07:07 EDTAPOLFor profit education positive catalysts outweigh negative, says Wells Fargo
Wells Fargo expects for-profit education stocks to benefit from improved hiring trends and a sale by Corinthian of its assets that, according t othe firm ,would set a valuation floor for the sector. The firm continues to believe that the final gainful employment rule will be neutral to positive for the group. Wells favors the option value on the long side for the sector. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
October 9, 2014
12:46 EDTAPOLDoE policy changes a negative for select Education stocks, says Deutsche Bank
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