Deutsche Bank Initiates Coverage on Corinthian Colleges (COCO) with a Buy; Turnaround Strory
COCO Hot Sheet
Rating Summary:3 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Deutsche Bank initiates coverage on Corinthian Colleges (Nasdaq: COCO) with a Buy. $27 price target.
Deutsche analyst says, "The Corinthian turnaround story is hitting its stride with rapidly improving margins and now strong FCF. The Heald acquisition highlights how comfortable management is with their internal capabilities. We believe COCO can reach its goals with new potential upside from Heald. We initiate with 1Q10E EPS of $0.28 (in-line with Street), FY10E EPS of $1.43, and FY11 EPS of $2.03 and $2.47 in FY12...With the recent planned CEO succession and Heald acquisition, management is implying strength in their internal controls and capabilities. Even specific regulatory actions versus the firm are much reduced since 2007. We think as Corinthian distances itself from legacy compliance issues the multiple will expand."
To see more analyst ratings on COCO Click Here.
Deutsche analyst says, "The Corinthian turnaround story is hitting its stride with rapidly improving margins and now strong FCF. The Heald acquisition highlights how comfortable management is with their internal capabilities. We believe COCO can reach its goals with new potential upside from Heald. We initiate with 1Q10E EPS of $0.28 (in-line with Street), FY10E EPS of $1.43, and FY11 EPS of $2.03 and $2.47 in FY12...With the recent planned CEO succession and Heald acquisition, management is implying strength in their internal controls and capabilities. Even specific regulatory actions versus the firm are much reduced since 2007. We think as Corinthian distances itself from legacy compliance issues the multiple will expand."
To see more analyst ratings on COCO Click Here.
You May Also Be Interested In
- UPDATE: Capstone Starts Facebook (FB) at Hold as Premium Multiple Not Justified
- Corinthian Colleges (COCO) Bounces Off Intraday Lows into Close
- UPDATE: William Blair Starts EPIQ Systems (EPIQ) at Outperform; Broad Suite of Solutions in Electronic Discovery Sector
Create E-mail Alert Related Categories
New CoverageRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
