Deutsche Bank Maintains a 'Buy' on DeVry (DV); Later Turn in New Enrollment Lowers Trough EPS and Pushes it oout a Year

Deutsche Bank maintains a 'Buy' on DeVry (NYSE: DV) price target cut from $53 to $49.

Deutsche analyst says, "We believe the turn in new enrollment will come in a quarter or two. Our 2QE EPS declines from $1.09 to $0.97 (Street at $1.18) and FY12E EPS declines 9% from $4.20 to $3.82 (Street at $4.43). We maintain our Buy as DV's lower regulatory risk, diversified revenue stream, and strong history of 90%+ placement rates and good salaries, should lead to a premium valuation vs campus-based peers once new enrollment turns, although we lower our PT."

For more ratings news on DeVry click here and for the rating history of DeVry click here.

Shares of DeVry closed at $46.08 yesterday.

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