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Apollo Education Group, Inc. Message Board

  • getintoh20 getintoh20 Mar 27, 2013 8:40 AM Flag

    Wells Fargo downgraded Apollo Group from Outperform , to JUNK..PT from $35 to $17

    Wells Fargo downgraded Apollo Group (NASDAQ: APOL) from Outperform to Market Perform and cut its valuation range from $32-$35 to $17-$19 following the company’s FQ2 earnings report.

    In its downgrade, the firm said while attractive cash flow could spark a rally at the earliest sign of stable demand, "we fear that the negative effects of the company's campus closures could persist for several more quarters, pushing a likely catalyst into CY2014."

    Wells Fargo cut FY2013 EPS estimate to $2.77 from $2.80 and FY2014 estimate to $2.20 from $2.83.

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