Barclays Cuts Price Target and Estimates on Career Education (CECO); Cautious Near-Term

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May 14, 2012 2:57 PM EDT
Get Alerts CECO Hot Sheet
Price: $79.59 +3.61%

Rating Summary:
    10 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Career Education (NASDAQ: CECO) price target lowered from $1 to $6.

Analyst, Gary E. Bisbee, said, "Given the lack of near-term visibility, high regulatory/legal uncertainty, and expected sharp deleveraging in the near term, we see no reasons for optimism, even with a low valuation and strong balance sheet."

Bisbee cuts FY12 EPS estimate from $0.22 to $0.04 and FY13 from $0.50 to $0.44.

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

Shares of Career Education closed at $6.21 yesterday.

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