Piper Jaffray Upgrades Career Education To Neutral

According to Piper Jaffray, Career Education (NASDAQ: CECO) is upgraded to Neutral on valuation.

Piper Jaffray said that it is upgrading its rating on Career Education to Neutral from Underweight on valuation considerations. “With a strong balance sheet and healthy free cash flow, CECO screens particularly well in our just published valuation analysis. While meaningful regulatory risk remains and near-term growth is expected to be anemic, our valuation analysis suggests limited downside, making a Neutral rating more appropriate.”

Career Education closed yesterday at $21.96.