UPDATE: Deutsche Bank Raises Target on Advisory Board to $75
Deutsche Bank maintains its Hold rating on Advisory Board (NASDAQ: ABCO) and raises its price target to $75 from $66 on stabilized CV growth.
Deutsche Bank says, "Organic CV growth stabilized from +25% YoY in the Sept quarter to +24% YoY in the Dec quarter on a slightly tougher comp. Guidance was largely in-line with our expectations. Our Mar. qtr EPS estimate, including amortization and stock comp, goes from $0.41 to $0.40 and our cal'12E EPS goes from $1.94 to $1.85. We raise our price target from $66 to $75 due to ABCO's continued strong growth and higher underlying profits."
ABCO closed at $76.28 a share yesterday.
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