Piper Jaffray Raises PT on DeVry to $57 (DV)

Piper Jaffray is out with its report today on DeVry DV, raising its PT from $55 to $57. In its report, Piper Jaffray notes, "Revenues of $551.5M for the quarter increased 16.6% y/y, slightly ahead of our 15.5% estimate and consensus of 16.0%. Revenue growth was driven by previously reported enrollment growth of 13.6%, with the upside a function of strength in the Becker CPA test prep unit. While our long-term view is positive, we retain our Neutral rating based on our current view that softer enrollment trends and decelerating near-term earnings growth may keep the shares range-bound on a near-term basis." Shares of DV are trading at $50.25, up 6.06% from yesterday's close.