Deutsche Bank Upgrades Corporate Executive Board (CEB) to Buy
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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."
Shares of Corporate Executive Board closed at $68.57 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Upgrades
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