Market Overview

UPDATE: Jefferies & Company Downgrades PAREXEL International to Hold, Lowers PT

Share:
Related PRXL
PAREXEL's Investment Day Leaves Citi Energized
PAREXEL's June 30 Investor Day Likely To Feature FY2017 Guidance

In a report published Friday, Jefferies & Company downgraded its rating on PAREXEL International Corporation (NASDAQ: PRXL) from Buy to Hold, and slightly lowered its price target from $31.50 to $31.00.

Jefferies noted, “PAREXEL's 20% move since its F4Q earnings (vs SPX up 4%) has it now trading at >20x CY13 earnings. We think that valuation reflects the long-awaited enthusiasm for PRXL's strategic wins and backlog growth, plus an expectation for outsized margin improvement. In other words, the stock is priced near perfection. Recent channel checks suggest progress, but not perfection.”

PAREXEL International Corporation closed on Thursday at $32.38.

Latest Ratings for PRXL

DateFirmActionFromTo
Jul 2016William BlairDowngradesOutperformMarket Perform
Jun 2016Credit SuisseInitiates Coverage onOutperform
Apr 2016Avondale PartnersMaintainsUnderperform

View More Analyst Ratings for PRXL
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (PRXL)

View Comments and Join the Discussion!