Fly News Breaks for July 26, 2018
Jul 26, 2018 | 21:05 EDT
Barrington analyst Alexander Paris kept his Outperform rating and $15 price target on Bridgepoint Education after its Q2 results, noting that both earnings and revenues topped estimates while new student enrollment also recovered to positive after 7 down quarters. The analyst believes that the quarter marks an inflection point in enrollment and expects growth to return in 2019. Despite the 25% rise in the stock price heading into earnings, the analyst notes that valuation on Bridgepoint Education at 5.9-times his expected 2018 estimates is still attractive relative to the 12.2-times group average.
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