Stifel issued a report on Apollo Education Group Inc. (NASDAQ:

) as the stock's volume has not recovered. Stifel lowered their target price from $35 to $25 and rates Apollo Education as a Buy. Jerry Herman and Jason Anderson, analysts at Stifel wrote, "Our Buy thesis which was based on the stock being cheap and the expectation that we were getting closer to a turn in core business has not played out as expected. We are not getting the volume recovery in a timely fashion. The disappointment will likely cause dislocation in the shareholder base and likely an "oversold" condition near term. However…the stock is too cheap even on reduced expectations. We previously believed that FY15 would be an earnings trough but now expect little recovery in FY16 with growth businesses such as Global and Corporate/professional development not large enough to overcome declines in legacy." Stifel believes that Apollo's participation in digital education and training could make it an attractive candidate for a strategic buyer. They consider the educational company's cash flow to be attractive, especially for a financial buyer. There are several risks to investing in Apollo Education group including challenges in cost cutting reductions and execution risk in initiatives targeting growth. Currently Apollo Education group is trading at $19.60, down 2 percent.