Piper Jaffray Upgrades Career Education To Neutral

According to Piper Jaffray, Career Education CECO is upgraded to Neutral on valuation. Piper Jaffray said that it is upgrading its rating on Career Education to Neutral from Underweight on valuation considerations. “With a strong balance sheet and healthy free cash flow, CECO screens particularly well in our just published valuation analysis. While meaningful regulatory risk remains and near-term growth is expected to be anemic, our valuation analysis suggests limited downside, making a Neutral rating more appropriate.” Career Education closed yesterday at $21.96.