PRXL Introduces FY2011 Guidance In Line With Expectations
Analysts at William Blair & Co maintain their "market perform" rating on Parexel International Corporation (NASDAQ: PRXL).
PRXL has updated its fiscal 2010 guidance expectations, along with introducing fiscal 2011 guidance, in line with the estimates and the consensus. “It appears that both our estimate and the consensus assumed slightly higher margins than guidance implies. We suspect this is likely a function of adverse foreign exchange movements. Parexel is hurt on both the top and bottom lines by an appreciation of the dollar versus foreign currencies. Given that guidance is in line with our estimates, we do not expect to make major changes to our model and will likely maintain our estimate of $1.26 following Thursday’s meeting,” William Blair mentions.
