Jefferies Comments On PPD (PPDI) On Takeover Chatter

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August 16, 2011 8:31 AM EDT
Get Alerts PPDI Hot Sheet
Price: $33.24 --0%

Rating Summary:
    1 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 9 | New: 31
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Jefferies commented on Pharmaceutical Product Development (NASDAQ: PPDI) following reports the company is the target of a go-private bid from Carlyle in the $33-$38 range.

The firm expects shares to trade up up further toward their $35 price target. "We had not thought PPDI was the most logical target in this group prior to the take-out chatter, but one cannot be surprised in light of the ongoing strategic review."

The firm is maintaining their Buy rating.

For more ratings news on Pharmaceutical Product Development click here and for the rating history of Pharmaceutical Product Development click here.

Shares of Pharmaceutical Product Development closed at $31.51 yesterday.

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