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UPDATE: Sterne Agee Downgrades PAREXEL Following FY13 Results, FY14 Guidance

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PAREXEL International (PRXL) Q2 2015 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Wednesday, Sterne Agee analyst Greg T. Bolan downgraded PAREXEL (NASDAQ: PRXL) from Neutral to Underperform, and lowered the price target from $44.00 to $36.00.

In the report, Sterne Agee noted, “After rigorous yet straightforward analyses, we conclude that PRXL's FY13 results were inflated by several favorable, non-fundamental variables and that FY14 operating margin guidance appears aggressive. We also conclude that with the expected moderation of revenue contribution from PRXL's largest client, upside to FY14 revenue guidance may be limited. Downgrading to Underperform and establishing a $36 price target based on 16x our CY15 EPS estimate of $2.36.”

PAREXEL closed on Tuesday at $51.33.

Latest Ratings for PRXL

DateFirmActionFromTo
Jan 2015Deutsche BankMaintainsHold
Jan 2015SunTrust Robinson HumphreyDowngradesBuyNeutral
Oct 2014BairdDowngradesOutperformNeutral

View More Analyst Ratings for PRXL
View the Latest Analyst Ratings

Posted-In: Greg T. Bolan Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

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