Piper Jaffray Lowers Price Target On Strayer Education (STRA)

Piper Jaffray is lowering its price target on shares of Strayer Education, Inc. STRA to $119 from $136. It has a Neutral rating on shares. Piper Jaffray writes, "Strayer's much weaker than expected 4Q enrollment growth likely portends similar sharp declines in enrollment growth from most of the postsecondary education companies over the next several quarters. We expect deteriorating fundamentals to keep the postsecondary group in a near-term trading range, even in the context of easing regulatory concerns. We see no rush to own STRA shares or for broad industry exposure." Shares of STRA closed at $153.24 on Friday, up 61 cents.