COCO Beats F2Q 2010 Expectations

Analyst Amy W Junker of Robert W Baird maintains her "neutral" rating on Corinthian Colleges Inc (NASDAQ: COCO), while raising her estimates for the company. The target price for COCO is set to $16.

Corinthian Colleges reported FQ2 2010 EPS and revenues ahead of the estimates and the consensus. COCO closed its acquisition of Heald College in early January. “We view the acquisition positively as it brings regionally accredited programs, an online platform, and favorable mix of associate's degrees relative to Corinthian's diploma mix,” the analyst says.

“We think regulatory concerns and fears over deceleration will keep the stock range bound for the next couple quarters,” the analyst adds. Robert W Baird has raised its EPS estimates for FY2010 and FY2011 from $1.57 to $1.66 and from $1.94 to $2.05, respectively.

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