UPDATE: Morgan Stanley Initiates Quintiles Transnational at Overweight on CRO Market Leader Position

In a report published Tuesday, Morgan Stanley analyst Ricky R. Goldwasser initiated coverage on Quintiles Transnational Q with an Overweight rating and $51.00 price target.

In the report, Morgan Stanley noted, “As the contract research organization (CRO) market leader with 11% share of clinical outsourcing, a diversified customer base and backlog visibility, we believe Quintiles is best positioned to benefit from the growth in biopharmaceutical R&D outsourcing.”

Quintiles Transnational closed on Monday at $43.53.