Jefferies Starts Quintiles (Q) at Hold

June 18, 2013 7:03 AM EDT Send to a Friend
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Price: $64.98 +0.05%

Rating Summary:
    15 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Jefferies initiates coverage on recent IPO Quintiles (NYSE: Q) with a Hold rating and $41 price target.

Analyst David Windley said, "The late-stage CRO market is poised to grow 7-9% over the next several years, according to March survey data. Quintiles should trend up to that rate, while late-stage peers are above that. Q's margins are closer to "peak" than its peers leading to slower earnings growth. With the growth differential, Q's valuation handsomely rewards its leadership position among CROs."

NOTE: Jefferies served as co-lead manager on Q's IPO.

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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