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Stock Market & Financial Investment News

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February 27, 2014
07:55 EDTESICFPB lawsuit doesn't add much risk to ITT Educational, says Wells Fargo
Wells Fargo believes that the risk posed by the CFPB's lawsuit against ITT Educational is exactly the same as the risk posed by the company's off balance sheet loan risk and should have already been incorporated into the stock price. The firm thinks the CFPB may not seek a large financial settlement from ITT Educational, and anticipates that any negative effects on the company's enrollment will be "largely marginal and temporary." The firm keeps an Outperform rating on the stock.
News For ESI From The Last 14 Days
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August 26, 2014
07:25 EDTESIITT Educational has negative read through from Corinthian, says Wells Fargo
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August 25, 2014
08:52 EDTESIITT Educational volatility elevated into Q2 and outlook
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07:23 EDTESIGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. 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).

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