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

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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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