UPDATE: Barclays Downgrades Apollo Education (APOL) to Equalweight

(Updated - July 12, 2013 9:50 AM EDT)

Barclays downgraded Apollo Education (NASDAQ: APOL) from Overweight to Equalweight with a price target of $20.00 (from $23.00). Analyst Manav Patnaik doesn't think news of University of Phoenix accreditation outweighs declining enrollment. After 11 consecutive quarters of declines, he has low confidence they will stabilize. He thinks EPS growth is unlikely and doesn't see shares moving materially higher.

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

Shares of Apollo Education closed at $18.97 yesterday.

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