UPDATE: Stifel Starts Quintiles (Q) at Hold
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(Updated - October 14, 2016 10:18 AM EDT)
Stifel initiated coverage on Quintiles (NYSE: Q) with a Hold rating and a price target of $84. Analyst Shlomo H. Rosenbaum said wait for a better entry point.
"We expect the company’s valuation to reflect a blend of Contract Research Organization (CRO) multiples and Information Services multiples since the company was formed through the combination of those types of businesses. We assume the 50% weighting for Info Services will reflect the average valuation in the Info Services space, and the 50% for CROs will be a slight premium to the CRO space, consistent with longer-term historical trends. A blend of 2017 and 2018 P/E and EV/EBITDA multiples yields an $84 valuation – about 12% higher than today’s price, which makes the shares interesting, but not quite a Buy (we prefer closer to 20%). We would be looking for an entry point closer to $70, all else remaining equal," said Rosenbaum.
Shares of Quintiles closed at $75.70 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Oppenheimer Upgrades Envision Healthcare (EVHC) to Outperform
- UPDATE: Stifel Upgrades Antero Midstream Partners LP (AM) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!