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Fly News Breaks for August 17, 2018
ATGE
Aug 17, 2018 | 12:46 EDT
Barrington analyst Alexander Paris, Jr. said that while Adtalem Global Education's Q4 results and FY19 guidance both "appeared disappointing," they are "significantly less so" when adjusted for the recently announced Carrington divestiture. While acknowledging FY19 is looking to be a "transitional year," the analyst would expect growth to accelerate and margins to expand in FY20 and advises investors to take advantage of today's selloff to buy for the longer-term. He maintains an Outperform rating and $60 price target on Adtalem shares, which are down 15% to $47.60 in afternoon trading.
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