UPDATE: Stifel Initiates Coverage On Medidata Solutions On Leading Software Platform

In a report published Tuesday, Stifel analyst Steve Rubis initiated coverage on Medidata Solutions MDSO with a Buy rating and $47.00 price target. In the report, Stifel noted, “We are initiating coverage of Medidata Solutions with a Buy rating on the shares and 12-month target price of $47. Medidata Solutions represents a leading eClinical software platform that drives efficiencies across the planning and execution of clinical trials through cloud-based solutions. We believe the company's cloud-based offerings coupled with robust analytics, which allow clients to benchmark efforts internally and against competitors, drive a compelling value proposition for Medidata Solutions' clients.” Medidata Solutions closed on Monday at $39.16.