Aspen Group price target lowered to $1.50 from $3 at B. Riley

B. Riley analyst Raj Sharma lowered the firm’s price target on Aspen Group to $1.50 from $3 and keeps a Buy rating on the shares ahead of the fiscal Q2 results on December 13. Aspen is "likely to forgo any ambitions" of pursuing pre-licensure programs, restructuring to cut its expense structure, and return to its "profitable roots" of online post-licensure and family nurse practitioner education, Sharma tells investors in a research note. The analyst reduced the target to account for the change in business model and the uncertainty surrounding Aspen.