Career Education Corporation "outperform"

04/23/03 - Barrington Research

NEW YORK, April 23 (New Ratings) – Analyst Alexander Paris of Barrington Research reiterates his "outperform" rating on Career Education Corporation (CECO), while raising his estimates for the company. The target price has been raised from $50 to $60.

The analysts mention that the company posted positive Q103 results. The company’s revenues increased by 39% to $245.60 million, adds the analyst. The company is likely to demonstrate better-than-expected performance in the near-term, according to the analyst. Barrington Research raises Career Education Corporation’s 2003 and 2004 EPS estimates from $1.82 to $1.92 and from $2.25 to $2.35, respectively.