Deutsche Bank Notes Solid Q2 for Devry (DV)

Deutsche Bank is out with its report on Devry DV, maintaining Hold and raising PT from $50 to $52, after solid Q2 results. In a note to clients, Deutsche Bank writes, "Solid quarter due to cost control, and we are unconcerned with Freeport's impact to long-term growth. Our 3Q11E EPS drops from $1.24 to $1.19 (prior Street at $1.26) while our 4QE rises from $0.90 to $1.01 (prior Street at $1.03). Our FY12E EPS rises 4% from $4.02 to $4.20 (prior Street at $4.78). We increase our PT from $50 to $52 to account for our higher trough EPS estimate. DV's multiple premium to campus-based peers is justified by its lower Gainful Employment risk." Shares of DV are trading pre-market at $49.50, up 4.47% from Tuesday's close.