Piper Jaffray analyst Peter Appert upgraded Capella Education (CPLA) to Overweight and raised his price target for the shares to $103 from $88. First Analysis last night also upgraded the shares. The pending merger with Strayer Education (STRA) will create a "larger, more profitable, and strategically well positioned" education provider with potential for "sharp" earnings gains over the next two years, Appert tells investors in a research note. He sees acquisition synergies creating near-term earnings upside. Appert also upgraded Strayer today to Overweight.