Goldman Sachs Upgrades PAREXEL International (PRXL) to Neutral

Goldman Sachs upgraded PAREXEL International (NASDAQ: PRXL) from Sell to Neutral with a price target of $77.00 (from $63.00).

Analyst Robert Jones said with the top-line trajectory mainly playing out as they expected and limited margin expansion baked into consensus
estimates beyond its announced $75-85mn restructuring program, they forecast and EBITDA roughly in line with the Street and no longer see compelling fundamental downside to the name.

In addition, with the two large-scale Clinical transactions announced over the past month reinforcing their view of industry consolidation within the CRO space, they see reduced downside risk for PRXL.

For an analyst ratings summary and ratings history on PAREXEL International click here. For more ratings news on PAREXEL International click here.

Shares of PAREXEL International closed at $79.31 yesterday.

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• Owens Corning (OC) PT Raised to $172 at Evercore ISI
• SL Green Realty (SLG) PT Lowered to $45 at Jefferies