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Fly News Breaks for February 22, 2018
LOPE
Feb 22, 2018 | 06:17 EDT
Piper Jaffray analyst Peter Appert raised his price target for Grand Canyon Education to $114 and keeps an Overweight rating on the name following the company's Q4 results. Continued strong operating momentum with an upward bias in estimates and "sharply improving" free cash flow justify a "meaningful" valuation premium to education peers, Appert tells investors in a research note. Further, he believes Grand Canyon's proposed restructuring provides optionality to a higher valuation based on the potential for higher margins and long-term growth.
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