Deutsche Bank Upgrades Corporate Executive Board (EXBD) to Buy; Attractive Entry Point After Recent Sell-off

Deutsche Bank upgraded Corporate Executive Board (NASDAQ: EXBD) from Hold to Buy, PT lowered from $45 to $43.

Deutsche analyst says, "We are upgrading EXBD to a Buy after yesterday’s selloff. We think CV growth and bookings stabilize around 10% to 12% YoY growth, while costs go down slightly QoQ. This should help EXBD reach the mid-point of their guidance range, esp. as the rev recognition acc’t change boosts 4Q. Our 2011E EPS declines 4% from $1.63 to $1.57 while 2012E EPS also declines 4% from $1.96 to $1.88. We like EXBD as we think the multiple expands as rev growth stabilizes and margins expand. "

For more ratings news on Corporate Executive Board click here and for the rating history of Corporate Executive Board click here.

Shares of Corporate Executive Board closed at $29.54 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Upgrades PennyMac Mortgage Investment Trust (PMT) to Buy
• Citi Upgrades Central Retail Corp PCL (CRC:TB) to Buy
• Investec Double Upgrades Alkem Laboratories Ltd (ALKEM:IN) to Buy