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UPDATE: Goldman Sachs Upgrades PAREXEL International to Neutral on Stabilization, Financial Visibility

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Goldman Sachs upgraded PAREXEL International (NASDAQ: PRXL) from Sell to Neutral and raised its price target from $28.00 to $36.00.

Goldman Sachs noted, "From 2008-2012 PRXL increased headcount by 45% to meet the demands of several new strategic partners (in particular PFE). While we acknowledge that there are likely more strategic deals to come, we believe PRXL is better positioned today to manage associated disruptions. As such, we upgrade PRXL to Neutral from Sell and raise our price target to $36 from $28 which is now based on 12-months (6-months previously) and group average multiples (vs. previous discounts) given improved financial visibility."

PAREXEL International closed at $32.74 on Friday.

Latest Ratings for PRXL

DateFirmActionFromTo
Oct 2014BairdDowngradesOutperformNeutral
Oct 2014JefferiesMaintainsHold
Oct 2014BarclaysMaintainsOverweight

View More Analyst Ratings for PRXL
View the Latest Analyst Ratings

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

 

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