Wells Fargo Upgrades American Public Education (APEI) to Outperform

March 22, 2013 7:18 AM EDT Send to a Friend
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Price: $32.40 -5.51%

Rating Summary:
    7 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Wells Fargo upgraded American Public Education (NASDAQ: APEI) from Market Perform to Outperform and raised its valuation range from $27-33 to $37-41.

The Congressional passage of the Continuing Resolution restores military tuition funding, the firm notes. There is also strong political resolve to keep the program intact.

In its upgrade, the firm said American Public Education's strong military brand will lead it to disproportionately benefit from growth in the number of veterans over the next few years. They note that in 2012, for example, GI Bill-funded tuition grew 77% for the company and was 13% of the company's revenue versus nearly nothing in 2008.

The firm raised 2013 EPS estimate from $2.35 to $2.60 and 2014 EPS from $2.35 to $3.15.

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

Shares of American Public Education closed at $34.00 yesterday.

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