Barclays Reiterates an 'Overweight' on Corporate Executive Board (EXBD); Growth on Track with Good 3Q'11

Barclays reiterates an 'Overweight' on Corporate Executive Board (NASDAQ: EXBD) price target of $45.00.

Barclays analyst says, "EXBD reported good 3Q'11 results, with in-line revenue and a $0.02 EPS beat driven by lower-than-expected costs, share repurchases and a slightly lower tax rate. Contract value and deferred revenue growth both accelerated slightly, and other metrics were healthy. We view this as a solid quarter that indicates EXBD is on track with its growth plan."

"EXBD tightened its 2011 guidance range and expects revenue/EPS up 10%-13% and 8%-15% y/y (high-end of EPS lowered by $0.05 to new $1.50-$1.60 range). We are raising '11 by $0.02 and maintaining '12 EPS, and estimate $1.56/$1.86 (+12%/+20% y/y)...EXBD remains a top small-cap idea."

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.

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