Baird analyst Jeffrey Meuler recommends using the selloff in shares of Grand Canyon Education following Citron Research’s short report as a buying opportunity. The report, which focused meaningfully on the Education Department’s decision to regulate Grand Canyon University as a for-profit university, “did not unearth meaningful new facts,” Meuler tells investors in a research note. One important aspect that appears largely overlooked by the report is that Grand Canyon long operated as a publicly-traded for-profit university before executing the separation and conversion transaction, contends the analyst. He keeps an Outperform rating on Grand Canyon shares with a $118 price target. The stock in afternoon trading is down 10%, or $8.83, to $82.67.