Wells Fargo Starts Quintiles (Q) at Outperform

June 18, 2013 8:18 AM EDT Send to a Friend
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Price: $64.98 --0%

Rating Summary:
    15 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 1
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Wells Fargo initiated coverage on Quintiles (NYSE: Q) with an Outperform rating and a price target of $49.00.

Analyst Tim Evans, said, "Quintiles is the largest company in a secular growth industry, where size and scope are important differentiators. As such, we believe Quintiles will continue capturing share from small contract research organizations (CRO). We also see Quintiles as one of the industry’s most disciplined operators, maintaining relatively high margin and returns on capital. Finally, we believe Quintiles is one of the most forward-looking companies in the industry, taking a leadership position in technology and also willing to think outside the box strategically. With a valuation that is reasonable (though not inexpensive), in our view, we think these factors create a favorable long-term risk/reward profile."

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

Shares of Quintiles closed at $43.53 yesterday.

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