Credit Suisse Downgrades DeVry (DV) to Neutral Amid CFO Departure
Get Alerts DV Hot Sheet
Rating Summary:
21 Buy, 1 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
Join SI Premium – FREE
Credit Suisse downgraded DeVry (NYSE: DV) from Outperform to Neutral with a price target of $17.00 (from $25.00) following news the CFO is leaving.
Analyst T. Urdan commented, "With the announcement after the close that CFO Tim Wiggins is leaving the company, replaced by former treasurer Patrick Unzicker, we no longer feel confident in our investment thesis, which was predicated in part on the graceful cost-cutting program instituted and supervised by Wiggins. And while we continue to see value in the sum of the parts of the company; that someone as capable and insightful as Wiggins could walk away from the potential upside offered by DV shares is a significant blow to our own confidence in the investment case."
For an analyst ratings summary and ratings history on DeVry click here. For more ratings news on DeVry click here.
Shares of DeVry closed at $18.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Monness, Crespi, Hardt Downgrades Palantir Technologies Inc. (PLTR) to Sell on 'egregiously rich valuation... darkest days of this economic downturn are ahead of us'
- Barclays Downgrades NIBE Industrier AB (NIBEB:SW) (NDRBF) to Equalweight
- Morgan Stanley Downgrades China Jinmao Holdings Group Limited (817:HK) (CJNHF) to Equalweight
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, DowngradesRelated Entities
Credit SuisseSign 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!