Piper Jaffray upgraded Grand Canyon Education (NASDAQ: LOPE) from Neutral to Overweight with a price target of $52.00 (from $50.00).

Analyst Peter Appert commented, "Based on continued strong enrollment, revenue and earnings trends we think LOPE shares are worth $52 based on operating fundamentals. Based on the prospect of a go-private transaction, which the Board is now considering, we think LOPE's asset value could potentially approach (or exceed) $68. This creates an interesting risk/reward situation and, accordingly, we upgrade our rating to Overweight from Neutral."

The firm raised FY 2014 EPS from $2.24 to $2.35 and FY 2015 EPS from $2.51 to $2.60

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

Shares of Grand Canyon Education closed at $43.22 yesterday.