Goldman Sachs Adds Apollo Group To Conviction Buy

Goldman Sachs is out with a research report on Apollo Group, Inc. APOL, and it is adding the name to Conviction Buy and it has a $82 price target on shares. In a note to clients, Goldman Sachs writes, "We are adding Buy-rated Apollo Group to the Americas Conviction list with 22% upside to our $62 price target. We believe that Apollo's proactive efforts to reposition its businesses, including the introduction of its University Orientation program and changes to recruiting/admissions process, will translate into better student outcomes and a more sustainable business model, despite near-term new enrollment weakness. We expect to see street estimates revised upward toward our above consensus estimates as Apollo delivers on this strategy." Shares of APOL are up $1.41 in pre-market trading to $52.24.