Deutsche Bank Cuts Target on Apollo Education (APOL) After Q2 Results

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Deutsche Bank cut its price target on Apollo Education (NASDAQ: APOL) from $45 to $40 and reiterated a Hold rating following Q2 results after the close.

The firm raised FY12E EPS rises due to better persistence and rev per student, but FY13E EBITDA declines 7% due to lower enrollment and revenue. EPS barley moves for 2013 due to expected buybacks on a lower share price.

"There was limited good news on the call and our concern about nonprofit competition and an improving labor market are increasing," the firm said.

For an analyst ratings summary and ratings history on Apollo Education click here. For more ratings news on Apollo Education click here.

Shares of Apollo Education closed at $43.20 yesterday, with a 52 week range of $37.08-$58.29.

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