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BMO Lowers Sector Rating on For-Profit Education Stocks: Downgrades APEI, DV, LINC, CECO, COCO

August 6, 2010 7:52 AM EDT Send to a Friend
Get Alerts APEI Hot Sheet
Price: $29.03 -0.75%

Rating Summary:
    7 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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BMO Capital's Robert Wetenhall downgraded the For-Profit Education sector to Market Perform this morning as the analyst says that uncertainty has increased following Congressional hearings, a GAO investigation, marketing improprieties and further insight into potential fraud.

The firm downgraded the following stocks, each from Outperform to Market Perform:
  • American Public Education (Nasdaq: APEI) - price target lowered from $50 to $25
  • DeVry (NYSE: DV) - target cut from $81 to $55
  • Lincoln Educational Services (Nasdaq: LINC) - target from $30 to $22
  • Career Education (Nasdaq: CECO) - target cut from $40 to $25
  • Corinthian Colleges (Nasdaq: COCO) - target from $20 to $10
BMO also maintained Outperform ratings on :
  • Bridgepoint Education (NYSE: BPI)
  • K12 (NYSE: LRN)
  • Grand Canyon Education (Nasdaq: LOPE)




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