Piper Jaffray Reiterates Neutral Rating on Apollo Group (APOL)

Piper Jaffray is out with a research report this morning, where it reiterates its Neutral rating on Apollo Group APOL; it has a $46.00 price target on the stock. The PJ analyst said that they expect few surprises when it reports Q4 earnings on October 13th. They added that the more interesting commentary is likely to be centered on the impact of the company's new orientation program and possible fine-tuning of F2011 expectations. The analysts added that they like the steps APOL is taking to improve student outcomes, but believe slowing near-term revenue growth and associated margin pressure may keep the stock in a trading range for the next several quarters.