Deutsche Bank Maintains Hold on Bridgepoint (BPI), Expects Trends to Worsen

March 12, 2013 12:01 PM EDT
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Price: $11.46 +11.80%

Rating Summary:
    5 Buy, 4 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Deutsche Bank today maintained a Hold rating on Bridgepoint Education (NYSE: BPI) with a price target of $9.00. Yesterday the company reported results that disappointed investors.

"Bridgepoint reported 4Q new enrollment of 9,300 (-31% YoY) which was significantly worse than our 11,500 (-15%) estimate and the Street's 10,700 (- 20%) forecast," said analyst Paul Ginocchio.

"We expect new enrollment trends to worsen into 2013 due to mgmt's organizational changes and focus on accreditation," added the analyst.

For an analyst ratings summary and ratings history on Bridgepoint Education (NYSE: BPI) click here. For more ratings news on Bridgepoint Education click here.

Shares of Bridgepoint Education closed at $10.15 yesterday.

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