UPDATE: Jefferies Reiterates PAREXEL International at Hold on Valuation Following Guidance

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Jefferies reiterated its Hold rating and $31 price target on PAREXEL International (NASDAQ: PRXL) following a press release from the company on Thursday. Jefferies commented, "PAREXEL's press release this morning should be viewed net positively, in our opinion. It provides updates on three key items: 1) acquisition of Liquent, which appears to be a very interesting, leverageable software platform for ushering regulatory submissions cradle-to-grave (positive); 2) Guidance for the core business increases ~3.5c (positive); 3) Bookings are sliding into C1H13 (negative)."PAREXEL International closed at $29.51 on Wednesday.

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