UPDATE: Raymond James Initiates Coverage On INC Research On Leveraging Therapeutic Expertise

In a report published Tuesday, Raymond James analyst Michael J. Baker initiated coverage on

with an Outperform rating and $37.00 price target. In the report, Raymond James noted, "We are initiating coverage of INC Research with an Outperform rating and $37 price target. We continue to believe overall contract research organization (CRO) trends are favorable and like INC's expertise and focus on the largest and fastest-growing therapeutic areas in the late-stage drug development space." INC Research Holdings closed on Monday at $32.57.