JP Morgan On DeVry's 2QF11 Earnings

JP Morgan has published a research report on DeVry, Inc. DV after the company reported December 2QF11 EPS yesterday, January 25 after market close. In the report, JP Morgan writes "Tuesday evening, DeVry reported 2QF11 (Dec) EPS of $1.25 (vs. our estimate of $1.19) as a result of healthy operating efficiencies; share repurchase contributed $0.01 of the beat. We continue to commend DV's approach of balancing growth and margin expansion. We think that DV's diversification strategy works well and note that recent new enrollment declines (within DeVry University and Carrington) and additional investment should not derail DV from its 20% EPS growth goal for FY2011." JP Morgan maintains its Overweight rating and $70 price target. DeVry, Inc. closed yesterday at $47.38.