UPDATE: Piper Jaffray Raises PT on American Public Education to $49

Piper Jaffray is out with its report today on American Public Education APEI, raising its PT from $41 to $49. In a note to clients, Piper Jaffray writes, "We maintain our Neutral rating. Our price target moves to $49 based on 20x (unchanged) 2012E EPS of $2.43 from $41 on higher estimates." At the time of posting, shares of APEI were trading at $46.28, up 2.19% from Tuesday's close.