UPDATE: Baird Equity Research Upgrades Quintiles Transnational Holdings to Outperform, Raises PT on Multiple Positive Factors

In a report published Friday, Baird Equity Research analyst Eric W. Coldwell upgraded the rating on

from Neutral to Outperform, and raised the price target from $49.00 to $52.00. In the report, Baird Equity Research noted, “In our opinion, Quintiles had a strong quarter and the Street appears hung up on what we believe are relatively inconsequential and relatively unsurprising items. Post-IPO results have played out as we expected and overly positive sentiment has turned overly negative at exactly the wrong time. Bookings were excellent and the set-up into 2014 is improving. Valuation has compressed as estimates have increased (and we see room for more upside NTM).” Quintiles Transnational Holdings closed on Thursday at $41.99.