Jefferies Starts Medpace (MEDP) at Hold

September 6, 2016 6:46 AM EDT
Get Alerts MEDP Hot Sheet
Price: $29.67 -2.4%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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Jefferies initiates coverage on Medpace (NASDAQ: MEDP) with a Hold rating and a price target of $32.50.

Analyst David Windley commented, "We initiate on MEDP with a $32.50 PT and Hold rating on valuation (+33.5% since pricing). MEDP competes in the phase I-IV CRO space, wins mandates with its therapeutic expertise and responsiveness, and delivers very high margin via its prescriptive operating model. We have credited MEDP's superior cash flow in our PT; however, quarterly volatility in operating metrics and the current biotech funding environment keep us from being more aggressive on valuation."

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

Shares of Medpace closed at $30.70 yesterday.

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