Piper Jaffray Initiating American Public With Neutral (APEI)

Piper Jaffray is initiating coverage on shares of American Public APEI with a Neutral rating, and a $27 price target. In the research report, Piper Jaffray writes, "We are assuming coverage of American Public Education with a Neutral rating and a $27 12-month price target. With a uniquely appealing market niche serving military personnel, APEI has a particularly attractive business model with very low regulatory risk. Near-term, however, the company faces slower enrollment growth, an evolving student population mix and associated pressure on margins, suggesting decelerating earnings growth." Shares of American Public Education closed up 29 cents today, to settle at $26.50.