Deutsche Bank Upgrades Corporate Executive Board (CEB) to Buy

April 11, 2014 6:45 AM EDT Send to a Friend
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Price: $73.21 -1.39%

Rating Summary:
    5 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
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Deutsche Bank upgraded Corporate Executive Board (NYSE: CEB) from Hold to Buy with a price target of $80 citing likely SHL upside in 2014.

Analyst Paul Ginocchio said, "We think there is upside to consensus revenue from SHL (24% of 4Q13 revs) due to the improving employment picture in Europe plus new sales hires in the US. We are raising our EPS for three reasons: 1) increased underlying organic growth expectations at SHL, 2) updated FX, and 3) incorporating the Knowledge Advisors acquisition. Our 1QE adj EPS goes from $0.64 to $0.65 (Street at $0.68) while our '14E adj EPS increases 2% from $3.34 to $3.40 (Street at $3.31). We maintain our $80 PT, which implies 16% upside from last night’s close excluding the 1.5% dividend yield."

For an analyst ratings summary and ratings history on Corporate Executive Board click here. For more ratings news on Corporate Executive Board click here.

Shares of Corporate Executive Board closed at $68.57 yesterday.



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