Citi Reports APOL FY20120 Outlook

Citi has issued a report on the FY12 outlook of Apollo Group Inc. APOL. According to Citi, "The company provided FY11and FY12 Outlook with FY11 roughly in-line with the Street (Rev/Op Inc midpoint of $4.70B/$1.18B vs. Street at $4.69/$1.18B). The big surprise here was FY2012 outlook which calls for a 12% Y/Y decline in total revenues to $4.13B (vs. Street at $4.52B), and a 710 bps decline in operating margins to 17.9% (vs. Street at 24.5%)." APOL has a High Risk Rating and a $45 PT. APOl closed at $42.35 on Monday.