Barclays Lowers PT and Estimates on Corinthian Colleges (COCO); Mixed Q4; Visibility Remains Low

Barclays maintains an 'Equalweight' on Corinthian Colleges (NASDAQ: COCO) price target of $2.00 (from $4.00).

Analyst, Gary E. Bisbee, said, "COCO reported mixed F4Q'12 results featuring in-line enrollment results but revenue and EPS below expectations. Despite solid new student growth during the quarter, COCO expects starts to flatten over the next two quarters as the company loses ATB students (who are no longer eligible to receive federal funding)..."

As visibility remains low, Bisbee reduces FY13 EPS estimate by $0.10 to $0.24 and FY14 by $0.14 to $0.32.

For an analyst ratings summary and ratings history on Corinthian Colleges click here. For more ratings news on Corinthian Colleges click here.

Shares of Corinthian Colleges closed at $2.42 yesterday.

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