Deutsche Bank Initiates Coverage on DeVry (DV) with a Hold
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Deutsche Bank initiates coverage on DeVry (NYSE: DV) with a Hold and $50 price target.
Deutsche analyst says, "DeVry has strongly rebounded over the last 3 years via accelerating enrollment growth, margins returning to peak levels, and declining PP&E per student. We think DeVry will grow enrollment slightly below the industry due to its less economically sensitive programs while EBIT growth should be faster due to significant margin opportunities. We rate DV a Hold as the higher PE (versus ITT & Apollo) already reflects the margin opportunity. We est. $0.68 of EPS for the Mar Q, $0.49 for the June Q and for CY09 are at $2.63 (Street $2.54)...We like the company, but don't think it provides the right cyclical exposure."
To see more analyst ratings on DV Click Here.
DeVry Inc. (DeVry), through its wholly owned subsidiaries, owns and operates DeVry University, Advanced Academics, Ross University, Chamberlain College of Nursing, and Becker Professional Review.
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