Bank of America Comments on Corinthian Colleges

Bank of America has published a research report on Corinthian Colleges Inc COCO. In the report, Bank of America wrote, "4Q11 EPS from continuing ops. of $0.13 (ex an $0.08 impairment charge) was $0.02 above our estimate, $0.01 above consensus and at the high end of guidance ($0.11-$0.13). Revenue was down 12% to $425mn vs. co. guidance of $423-433mn. Operating margins of 4.3% excluding the impairment charge were 30bps above our forecast & down vs. 11.5% last year." Bank of America rated Corinthian Colleges an Underperform with a price target of $5.00. Corinthian Colleges closed Monday at $2.11.