Piper Jaffray Reiterates Overweight on The Advisory Board (ABCO); Says Company is Back on Track

Piper Jaffray reiterates an Overweight rating and $59.00 price target on Advisory Board Company (NASDAQ: ABCO) after reevaluating the company. Analyst Sean Wieland believes that the company is back on track to receive steady top line organic growth.

Wieland commented, "ABCO shares have underperformed the broader market for the past two years because investors were less than enamored with three dilutive acquisitions and decelerating growth, but we believe the company is back on track to achieve a more steady 15% top line organic growth coupled with 50bps+ annual EBITDA margin expansion. More consistent performance, an improving balance sheet and a normalized tax rate should reflect positively in the multiple. We reiterate our OW and $59 target."

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 $52.15 yesterday.

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