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Fly News Breaks for March 27, 2015
APOL
Mar 27, 2015 | 07:55 EDT
Wells Fargo believes that the disappointing start data and persistence of Apollo's University of Phoenix last quarter are related to execution and do not reflect on the demand environment or the overall for-profit education sector. The firm says University of Phoenix was hurt by competitors' increased spending on student acquisition. The firm expects Apollo to ultimately benefit from Fortune 2000 companies' upbeat view of its offerings. Wells keeps an Outperform rating on the shares.
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