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UPDATE: Sterne Agee Maintains PAREXEL International at Underperform Following Guidance


Sterne Agee reiterated its Underperform rating and $23.50 price target on PAREXEL International (NASDAQ: PRXL).

Sterne Agee noted, "PRXL revised GAAP EPS to $1.32-1.39 (mid: $1.355) from $1.30-1.40 (mid: $1.35). Dilution from the Liquent deal should be about $0.03, so EPS guidance would have gone to $1.32, but instead was maintained at ~$1.35. The incremental $20MM in revenues beyond Liquent is what boosts EPS back to $1.35. None of these clarifications alters our previous estimate changes, but we thought it important to clarify what appears to be quite a bit of confusion among investors."

PAREXEL International closed at $29.51 on Wednesday.

Latest Ratings for PRXL

May 2017UpgradesSellNeutral
May 2017UpgradesHoldOutperform
Feb 2017DowngradesOutperformNeutral

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Posted-In: Sterne AgeeAnalyst Color Reiteration Intraday Update Analyst Ratings


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