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Piper Jaffray Reiterates Overweight on The Advisory Board (ABCO) Following 1Q Beat

November 6, 2015 10:26 AM EST
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Price: $53.83 --0%

Rating Summary:
    7 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Piper Jaffray maintained an Overweight rating on Advisory Board Company (NASDAQ: ABCO), and cut the price target to $66.00 (from $67.00), following the company's 1Q16 earnings report. Revenues of $200M beat consensus of $189M. EPS of $0.33 beat consensus of $0.14. Several factors led to the strong revenue and EPS performance in Q3, but much of that was timing related, and therefore management reaffirmed guidance for FY15.

Analyst Sean Wieland commented, "ABCO at first glance had a beat on revenue and EPS, but the company indicated that several deals and early performance-based fees came in a quarter early, and reaffirmed FY15 guidance. Both Royall and Clinovation acquisitions are contributing to revenue. We reiterate our Overweight, and lower our PT to $66 from $67 as we update our CY16E revenue estimate, based on net debt of $501M, +185M for EVH, and 42.8M s/o (3.5x unchanged)."

For an analyst ratings summary and ratings history on Advisory Board Company click here. For more ratings news on Advisory Board Company click here.

Shares of Advisory Board Company closed at $44.21 yesterday.



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