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

Jefferies reiterated its Hold rating and $31 price target on PAREXEL International

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.