DeVry Education: Can The BTM Division Stay Breakeven? Deutsche Bank Comments

In a research report issued today, Deutsche Bank analyst Paul Ginocchio assigned a Buy rating on DeVry Education Group (NYSE:DV) with a price target of $55.00.

Ginocchio wrote, “The key concern investors voiced in our DV upgrade last week was “can the BTM division (DeVry undergrad + Keller) stay breakeven?” While we share that concern, our analysis suggests that 14 campuses out of 90 could likely be closed based on the criteria we discuss in this note, giving DV significant cost savings opportunity. Also, while DV has consolidated campuses, it has not exited any markets. If and when it does, we think it will be a positive signal to investors about DV’s commitment to keeping BTM breakeven.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Paul Ginocchio has a total average return of 5.5% and a 52.1% success rate. Ginocchio has a 1.3% average return when recommending DV, and is ranked #740 out of 3319 analysts.

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