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UPDATE: Goldman Sachs Upgrades Covance to Buy on EPS Expectations

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Goldman Sachs upgraded Covance Inc. (NYSE: CVD) from Neutral to Buy.

Goldman Sachs commented, "We upgrade CVD to Buy on (1) reaccelerating EPS growth with support from visible drivers, (2) potential upside to 2013 consensus (guidance with 4Q), and (3) greater upside optionality on fundamentals relative to Late-Stage peers. With its IT investments better understood, we believe more value could be ascribed to CVD's clinical business. On valuation, we believe the premium on 2013 is warranted given the accelerating earning growth and see shares trading more inline on 2014 estimates."

Covance closed at $62.54 on Friday.

Latest Ratings for CVD

Aug 2014Credit SuisseMaintainsOutperform
Jul 2014JP MorganMaintainsOverweight
Jul 2014SunTrust Robinson HumphreyMaintainsNeutral

View More Analyst Ratings for CVD
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Intraday Update Analyst Ratings


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