Piper Jaffray Upgrades Bridgepoint Education To Overweight

According to Piper Jaffray, Bridgepoint Education (NYSE: BPI) is upgraded to Overweight.

Piper Jaffray said that, with regulatory clarity likely on a near-term basis, long-term growth prospects in-tact and appealing, and the valuation at what we consider to be an artificially depressed level, Bridgepoint's shares represent an attractive way to have exposure to the postsecondary education sector. “We are upgrading our rating to Overweight from Neutral. Our upwardly revised $31 price target suggests 51% potential upside.”

Bridgepoint Education closed yesterday at $20.47.