Grand Canyon price target raised to $173 from $152 at BMO Capital

BMO Capital raised the firm’s price target on Grand Canyon (LOPE) to $173 from $152 and keeps an Outperform rating on the shares after its Q3 results. Grand Canyon University faced revenue and enrollment weakness due to lower ancillary revenues and scholarships and slightly lower than expected enrollment, but the Hybrid enrollment growth was better than expected, with above-10% new start strength expected to continue into next spring, the analyst tells investors in a research note.