UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Quintiles Transnational Holdings on Strong Product Development Sales

In a report published Friday, Bank of America analyst Derik de Bruin reiterated a Buy rating on

, and raised the price target from $55.00 to $60.00. In the report, Bank of America noted, “We are positive on Quintiles' outlook as industry challenges ease and as the company's global reach, scale, and differentiated portfolio, especially in clinical trial informatics and genomic services, help capture incremental market share. Quintiles' strong brand, stability, and focus on regulatory compliance are also likely to help continue to attract and retain customers.” Quintiles Transnational Holdings closed on Friday at $52.20.