Piper Jaffray analyst Peter Appert lowered his price target for 2U to $57 from $78 following the company's Q1 results and keeps a Neutral rating on the shares. 2U dialed back near-term growth expectations for its core Graduate Program unit to 25% from 30% citing greater admissions selectivity by partner Universities, reduced conversion of inquiries into applications and a delayed roll-out of the UC Davis MBA program, Appert tells investors in a research note. He believes lower revenue growth expectations will put downward pressure on the shares in the near-term.