BMO Capital analyst Jeffrey Silber keeps an Outperform rating and $120 price target on Grand Canyon but notes that yesterday’s ruling by an Arizona federal district judge affirming U.S. Department of Education rejection of the company application for non-profit status is a ‘negative headline’ that could impact the stock as "word gets out". Grand Canyon University will have to follow certain regulations which for the most part apply to for-profits, though the company should be able to comply, Silber tells investors in a research note.
Published first on TheFly
