Sterne Agee Maintains Neutral on Apollo Group

Sterne Agee is out with its report today on Apollo Group APOL, maintaining Neutral. In a note to clients, Sterne Agee writes, "We are raising our FY11 revenue/EPS estimate from $4.65B/$4.72 to $4.7B/$4.88 primarily to reflect F3Q upside. We are raising our FY12 revenue/EPS estimate slightly to $4.17B/$3.22 from $4.095B/$3.14, respectively. We are maintaining our Neutral rating on shares of APOL." At the time of posting, shares of APOL were trading pre-market at $46.15, up 5.65% from Thursday's close.