| 2016-11-23 06:15:35|
PRXL 06:15 11/23 11/23/16
PAREXEL downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Tim Evans downgraded PAREXEL to Market Perform after reviewing the company's quarterly filing. Unresolved material weakness in controls, high cancellations "defying clear explanation" and a Q1 restatement create risk that another guidance cut is likely, Evans tells investors in a research note. He cut his price target range for the shares to $60-$65 from $70-$75.