Wells Fargo Upgrades Capella Education (CPLA) to Outperform

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Wells Fargo upgraded Capella Education (NASDAQ: CPLA) from Market Perform to Outperform and raises its price target range to $40-43 from $33-36.

The firm comments, "We are upgrading our rating on shares of Capella Education following the company's recent earnings report. The task of rebuilding sustainable enrollment on a more solid foundation has begun, and we believe the company's strategy is well conceived, having produced enough early success to allow start growth to turn positive. While investment spending and a higher tax rate resulted in missed EPS - and we are lowering our estimates accordingly - we expect that with the definitive turn in start growth, the downward revisions are over. Our FY2013 EPS moves to $2.43 from $2.82 and our FY2014 estimate moves to $2.91 from $3.10."

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

Shares of Capella Education closed at $31.97 yesterday, with a 52 week range of $25.81-$44.71.

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